April 17, 2023 – Written by John Cameron
STORY LINK Pound US Dollar Exchange Rate News: GBP/USD Softened on as Markets Brace for Further Fed Rate Hikes
US Dollar (USD) Buoyed by Renewed Rate Hike Bets
The US Dollar (USD) found traction once again despite a slew of downbeat economic data. A persistently hawkish Federal Reserve helped restore confidence in the US Dollar, as expectations are growing of further tightening at the next policy meeting.
Combined with Fed Chair Jerome Powell saying that the Fed can’t see a possibility of rate cuts this year, expectations are growing. Economists at BBH commented on the situation that Fed’s tightening…
Read More