Lates News

On Wednesday, Federal Reserve Chairman Powell emphasized the risks in the labor market while downplaying concerns about inflation, resulting in the US dollar recording its worst performance in nearly three months. The US dollar index closed down 0.4%, marking the largest drop since September 16th, following the Federal Reserve's decision to cut interest rates by 0.25 percentage points. US Bank strategist Alex Cohen said, "Powell's attitude towards the labor market is not as optimistic as previous forecasts." He added that the comments from the Fed Chairman on labor and inflation led to the decline in the US dollar. Macro strategist Edward Harrison stated, "With the Federal Reserve and increasingly hawkish central banks of other countries out of sync, a weak US dollar should take guidance from bonds and interest rate differentials."