Interest Rate Announcement Spooks Markets: Stocks Swing, Dollar Rises, and Gold Weakened – What’s Next?
TOKYO, Japan – Following Federal Reserve Chair Jerome Powell’s announcement that interest rates are unlikely to be cut before March, treasuries experienced a decline in Asia. The dollar also strengthened against most major peers. This statement led to a change in investor predictions for a rate cut in March by the Fed, dropping to around 20% from almost 40% on Thursday. This is due to economic resilience which reduces the likelihood of imminent policy easing. …