If the Fed fails to surprise, the Euro will rise further – SocGen EURUSD Fed Banks InterestRate
consolidates at six-week highs before the FOMC decision. Economists at Société Générale expect the pair to enjoy further gains if the meeting manages to keep the market pricing where it is today.“There’s a world in which, with natural gas prices back at 2021 levels and theapproaching the end of the tightening cycle as the regional banking crisis tightens financial conditions in the US , the Dollar is set for a significant fall.
“A 25 bps hike looks like the most likely outcome, though forecasters’ conviction levels are very low, and while we’ll get a new ‘dot plot’ and new economic projections, they will surely be shrouded in enough caveats to make it clear that the FOMC is simply buying time to see if the measures taken to stabilise the banking sector are working.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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