US strong economic data lure investors back to dollar
The market can punish for forwardness. The CME derivatives were indicating two or three Fed’s rate cuts in 2019, investors were selling the greenback, expecting the FOMC to sound dovish at the meeting on June 18-19. However, the central bank should have some reasons to lower the rate. Jerome Powell has stressed many times that the decision on any changes in the Fed monetary policy will be taken based on the incoming data. Therefore, strong reports on the US retail sales and manufacturing production don’t suggest that the US GDP should…
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