The majority of EM countries must be breathing a sigh of relief after the US Federal Reserve delivered a dovish hike, limiting downside pressure of their currencies in 2016.
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On December 16, 2015, the FOMC raised its interest rate by 25bps, as was largely predicted, but with dovish sentiments.
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The Fed increased interest rates by a quarter of a percent at its December rate meeting on Wednesday, but what did opinion-makers make of the move?
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Being long the dollar is the “most crowded-trade” according to over half the respondents of a key money-manager survey, conducted by Bank of America Merril Lynch, in December.
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Economists at Deutsche believe the Fed will aggressively front-load its rate hike plans, raising rates by 0.75% by the middle of 2016.
Read more … →Cable has hit resistance from a cluster of levels, including the 50-day MA, at the upper border of a falling wedge pattern on the daily chart.
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Lingering uncertainty on the US economic outlook ahead of the Federal Open Market Committee expected rate hike has subdued the market’s response to good US economic data and put the USD under near …
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