November 17, 2024 – Written by David Woodsmith
STORY LINK Euro to Dollar Exchange Rate Tests 1.05
Instead of confirming a December cut was likely, Powell has introduced uncertainty.
The odds of a cut are now around 50/50.
The dollar made new 2024 highs on Thursday and pushed EURUSD down to 1.05.
The post-election rally had already started to fade by the time Fed Chair Powell spoke on Thursday. Stock markets peaked on Monday and drifted lower, while Bitcoin reversed on Wednesday. This may be have driven by profit taking, but Powell’s speech introduced…
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