-- The US dollar curbed its losses after the Federal Reserve reduced the number of projected interest-rate cuts this year to just one.Britain’s ‘Quiet Quitters’ Are Costing the Economy £257 Billion
“It seems like the Fed that doesn’t want to overreact to today’s good CPI number,” said Paresh Upadhyaya, director of fixed income and currency strategy at Amundi, US. “Had it not been for a good inflation number, the markets would’ve been under pressure by the hawkish slant of the Fed.” The weaker greenback helped Europe’s common currency to surge by more than 1% to 1.085 against the greenback, the most in about six months. It later curbed gains to 1.082 after the Fed decision. The British pound advanced as much as 0.9%, the highest since March, before paring gains. All currencies in the Group of 10 were stronger against the greenback.
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