The Fed's Dovish Signal Rips Through Currency Markets
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A dovish signal from the Federal Reserve sent shock waves through currency markets Thursday, pushing the dollar down to a six-week low.
The oft-predicted convergence of the U.S. economy with the rest of the world appears to be getting closer after the Fed lowered its projection for rate hikes in 2019 on Wednesday, putting the focus back onto interest-rate spreads and weakening the dollar, currency strategists said.