US Dollar bears move in as markets turn on a dime during Fed event – by fx_ross DollarIndex Fed Currencies YieldCurve
Two-way price action was the outcome in financial asset classes to the Fed and US Dollar prints fresh bear cycle low.
While the Fed has signalled its plans to keep lifting rates next year to combat high inflationFed's chair Jerome Powell is currently speaking and his comments have given mixed messages to the market. Consequently, we are seeing two-way price action in asset classes, including the US Dollar and US Treasury yields have spun around in the 10-year from a high of 3.5610% to print 3.47% currently, well on course towards the day's low of 3.46%.Target Range stands At 4.25% - 4.50%.
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