The US Dollar recorded gains, following yesterday’s announcement of a 25-basis point rate cut by the Fed. It Is counterintuitive that a rate cut is followed by a strengthening of the currency, but in this case the explanation lies in Jerome Powell’s speech, which followed the announcement.
The Chairman of the Federal Reserve started off by saying that the cut is only a mid-cycle adjustment, but left all options on the table, including further cuts but also the possibility of a new cycle of hikes. The confusion generated by these conflicting messages disappointed those expecting a more clearly dovish tone, offering support to the Dollar which is up almost 0.4% against a basket of other currencies during early Thursday trading.
Photo by Mel Poole.
Has undertaken a number of senior roles in his current employer including running the international desk, responsible for managing sales, customer services and marketing functions for a number of territories, as well as acting as a regular public speaker at events and contributor to TV and other media through interviews and market analysis. Since November 2016 he has been the Senior Executive Officer (SEO) of ActivTrades Dubai branch, having overall management responsibility of the branch. Prior to joining ActivTrades Ricardo worked in the IT and Financial industries.
© 2019 High Leverage FX - All Rights Reserved.
© 2019 High Leverage FX - All Rights Reserved.