Market Reaction:-

Market Reaction:-

✅Remarks from Fed Chair Jerome Powell and his colleagues will hog the limelight on Thursday.

✅Fed officials lately explained why they supported an outsized rate cut at the September meeting.

✅Powell’s speech and Fed commentary could rock the US Dollar against its major rivals

With the return of US Federal Reserve (Fed) policymakers to the rostrum late last week, the US Dollar (USD) continues to bear the brunt of the dovish Fed outlook on interest rates.

The US central bank opted last week for a 50 basis points (bps) rate cut, bringing the fed funds rate to a range of 4.75%-5.0%. The Summary of Economic Projections, the so-called Dot Plot chart, suggested an additional 150 bps of rate cuts for this year and the next.


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