U.S. Dollar Surprisingly Soft After Powell Casts Doubt on December Rate Cut: Trading Point
- Category: USD
Federal Reserve rate cut expectations were dramatically pared back on Thursday after Jerome Powell rounded up the week’s hawkish rhetoric by adding to the sense of caution about the pace of easing.
... but both European currencies are now oversold against the Dollar on a tactical basis.
The Pound to Dollar exchange rate fell to 1.27 after U.S. inflation rose in October.
The Dollar powers onward, helped by Donald Trump's appointments of trade 'hawks' to his top team that reinforces his committment to significant import tariffs.