Morning Call: Fed stance traps dollar in limbo
Senior Editor, Saxo Bank
Summary: In today's Morning Call our experts discuss how the Fed chair Powell's "insufficiently dovish" policy guidance last night has hemmed in the dollar, flattened the yield curve and sent Fed funds futures lower. Elsewhere, industrial metals are under heavy pressure from poor PPIs in China and the US.
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Why the Fed can never catch up and what turns the US dollar lower?Many other central banks are set to eventually outpace the Fed in hiking rates, taking their real interest rates to levels higher than the Fed will achieve.
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