The dollar as rising as investors continue to digest the Federal Reserve’s widely expected decision to cut interest rates by 25 basis points on Wednesday.
With Fed Chair Jerome Powell describing the decision as a risk-management cut, markets were left feeling less confident on the extent of the likely easing cycle, Deutsche Bank analysts said in a note.
The Fed’s so-called dot plot pointed to two more 25bp cuts at this year’s remaining two meetings along with further cuts next year.