Powell’s Hawkish Determination Is Firing Up Bets on the Dollar
- ‘Powell did not pull any punches,’ say strategists at TD
- Policy surprises from the Fed are adding support to the dollar
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A more hawkish and less predictable Federal Reserve is adding more fuel to a rally in the dollar.
An index of the greenback’s strength jumped to a five-week high on Thursday as investors said Fed Chair Jerome Powell’s comments reveal a surprisingly aggressive stance to tightening monetary policy.