USD rallies on overall hawkish November FOMC meeting
The dominant focus remains on the Fed’s November meeting, which initially saw some volatility in USD due to the market’s interpretation of the statement as dovish but the press conference as hawkish.
Ultimately, the market’s focus settled on Powell’s comments that they still have some way to go and that the data suggests rates will peak higher than previously expected.
The overall hawkish November meeting has driven EURUSD back down to below the 0.98 handle, while NZDUSD breaks below the 0.58 handle, and DXY moves firmly through the 112.00 handle.
Ultimately, the market’s focus settled on Powell’s comments that they still have some way to go and that the data suggests rates will peak higher than previously expected.
The overall hawkish November meeting has driven EURUSD back down to below the 0.98 handle, while NZDUSD breaks below the 0.58 handle, and DXY moves firmly through the 112.00 handle.
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