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Rich Asplund

YOU WONT BELIEVE: Dollar posts 1 5 week high on expectations for hawkish fomc commentary - You Need To See This

US Federal Reserve Gold Warsh Interest Rates United States BOJ ECB Monetary Policy PBOC

The dollar index (DXY00) is up +0.26%, posting a new 1.5-week high and posting the third consecutive session gain.

The dollar is seeing support ahead of the 2-day FOMC meeting that begins today, amid expectations that Fed Chair Warsh will deliver somewhat hawkish commentary on future rate hikes to curb above-target inflation. The markets are discounting only a 9% chance of a rate hike at this week’s meeting, but a 91% chance of a rate hike at the FOMC’s next meeting on December 8-9.

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