
US Dollar soars as markets digest Powell’s words, Fed’s hawkish cut
NEWS | 12/18/2024 19:40:00 GMT | By Patricio Martín
- DXY trades rose above 107.80, reacting to the Fed’s anticipated rate cut.
- Markets parse new rate projections for 2025 and 2026.
- Traders assess Powell’s cautious yet hawkish remarks.
The US Dollar Index, which measures the value of the USD against a basket of currencies, holds near 107.80 on Wednesday following the Federal Reserve’s widely expected 25 basis point rate cut, bringing the benchmark rate to a 4.25%-4.50% range. The Fed’s updated projections point to a more cautious yet
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