Dollar Bulls Left Second Guessing by Fed’s Nod to Currency Wars
Is the Strong Dollar Making the Fed’s Job Easier?
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Janet Yellen just instilled some doubt in dollar bulls.
The Federal Reserve chair acknowledged the negative consequences of this year’s gains Wednesday, saying the currency is weighing on U.S. exports and inflation as policy makers pared back their outlook for interest-rate increases. That sent the greenback down by the most since 2009, though it rebounded Thursday to continue its rally of 14 percent over the past six months.