The Greenback Holds in the Midst of the Fed's Flip-Flop Debacle
The dollar is leading the way after some Fed commentary on which John Williams presented rather modest remarks (devaluation of the dollar) yesterday before his own New York Fed office had to make it clear that they were "academically" Earlier trades in the Asia-Pacific region (raising the dollar again).
The greenback gains have flattened somewhat, but there is no doubt that this will remain the main focus on the markets as we embark on the start of European trade today.
The yen remains on the weaker side as government bond yields rise again and 1
The other main currency blocs have barely changed, but the dollar is still weaker overall compared to the beginning of the year. Yesterday's trading. We would like to remind you that the Fed's spokespeople will launch a lock-up phase after today, so we will not hear any more recent remarks ourselves before the FOMC meeting on July 31st.
That's why we could expect more choppy and chaotic price action. Markets are continuing to consider what the Fed plans to do later in the month.