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US Dollar rebounds after Fed's 25 bps cut

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US Dollar rebounds after Fed's 25 bps cut

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New update 2024.11.08 04:22
US Dollar rebounds after Fed's 25 bps cut

update 2024.11.08 04:22

  • The USD holds losses around the 104.50 area on Thursday's session.
  • Despite the daily losses, the Dollar Index gained momentum after the Fed's decision and trimmed daily losses.
  • The Committee seems confident to achieve inflation at the rate of 2% over the longer run.

The US Dollar Index (DXY) rebounded somewhat after the Federal Reserve (Fed) cut its benchmark interest rate by 25 basis points, bringing it to 4.50%-4.75%. This followed a larger 50 basis point cut by the Fed at its September 18th meeting.

In a highly anticipated move, the Federal Reserve reduced its Fed Funds Target Range by 25 basis points, bringing it to a 4.50%-4.75% range. This decision aligns with market expectations and suggests the Committee's commitment to achieving maximum employment and inflation at the rate of 2% over the longer run.

While the decision was in line with expectations, it did not provide a clear indication of the future course of monetary policy. The Committee stated that it will continue to assess incoming data and the evolving outlook when making future decisions. However, it did note that the risks to achieving its goals are roughly in balance, suggesting that it is not yet ready to signal a significant shift in its policy stance.


Date

Created

 : 2024.11.08

Update

Last updated

 : 2024.11.08

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