London RationalFX

RationalFX : Dollar demand higher as Fed signal dovish outlook

RationalFX : Wednesday evening saw the eagerly anticipated Federal Reserve press conference take place, and their economic outlook has seen investor concerns rise as the dollar strengthened against riskier currencies …

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It was also projected that US interest rates would likely stay near zero for the foreseeable future.

Federal Reserve policymakers predict that the US economy will shrink to 6.5% this year and the unemployment rate will be at 9.3% by the year end, fueling concerns by many that this will not be a simple v-shaped recovery for the wider global economy. This led on to Fed Chair Powell describing the path of interest rates as a “long road” and that a hike was not close to being considered.

Key announcements

13:30 – USD – Initial Jobless Claims (Jun); expected to decrease to 1550K from previous 1877K

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