鹰派美联储或助推美元持续走强

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The June 16th and 17th FOMC meeting was one of the most highly anticipated in years because it marked the first under the new Fed Chairman Kevin Warsh. Now, leading up to the policy decision, the general consensus [music] was that Chairman Warsh might lean more dovish than his predecessor Jerome Powell. However, the outcome may have indicated otherwise. Not only were the Chairman's [music] remarks focused on the latest round of inflation, but the dot plot revealed a surprisingly hawkish alignment.

Nine of the 19 committee members now favor rate hikes before the end of the year, while eight predict no move at all, and only one expects a rate cut. That math leaves out one missing dot belonging to the Chairman himself, who has publicly expressed a desire to move away from future Fed projections. [music] For currency traders, the asset viewing this hawkish shift as a distinct tailwind [music] is the US dollar. Now, the greenback has gained an average of 3.5% against major developed market currencies

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since May, and now sits at a one-year high. With the yield advantage shifting back towards the United States, the central question for the foreign exchange market [music] is clear. Is this the beginning of a sustained dollar rally?

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