The Federal Reserve’s recent indications of a cut in interest rates have spurred increased negative perceptions of the dollar, largely driven by expectations of the Fed’s response to the US economic slowdown.
The dollar wrapped up its worst-performing year since the pandemic began, with growing Wall Street sentiments pointing towards a likely interest rate decrease by the Federal Reserve in 2024 . Initial forecasts suggested the Fed would ease its rate hikes. However, according to Bloomberg’s assessment, the currency faced a 2.7 percent decline in 2023, marking its sharpest drop in three years. This decline was especially pronounced in the final quarter of the year.
The primary driver was the heightened anticipation of policy shifts by the Federal Reserve in response to the deceleration of the US economy . Such developments undermine the dollar’s standing, particularly in comparison to central banks that might […]
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