US Dollar swan dives over Fed's Powell's comments but bulls are back in DollarIndex Fed CentralBanks Currencies
The strong jobs report shows you why we think this will be a process that takes a significant period of time.We probably need to do further interest-rate increases.2% inflation is a global standard and not something the Fed is looking to change.The debt limit debate can only end with congress raising it, which has to happen.If debt ceiling isnt raised no one should think fed can shield economy from effects.It will be a couple of years before the fed's balance-sheet decline comes to an end.
data on Friday, ISM services data pointed to a strong services sector, adding to concerns about persistent inflation and bolstering the case for more rate increases. However, we have seen a shake out of the in-the-money US Dollar longs during this event with a rally in the Euro, for instance: If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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