On Friday (October 28), the sub-session, rush high fell back, temporarily traded at 109.67, down 0.04%.
Stiglitz recently suggested that it should wait and see because the data showed that inflation and inflation expectations had moderated and that it would be irresponsible for the Fed to create higher unemployment.
Amid so much uncertainty, it should pause until it has a more reliable assessment of macroeconomic conditions.
The Fed’s fight against double-digit inflation triggered the Latin American debt crisis;
In the 2010s, changes to the Federal Reserve after the global financial crisis disrupted the economies of Brazil, India, Indonesia, South Africa and others.
This round of tightening is expected to be the most severe since the 1980s.
It is a mistake for the Fed or any other central bank to believe that it can be tweaked.
By obviously raising interest rates, it causes a lot of disruption to companies and countries.
I think in this case, the strategy of waiting and watching and not rushing to make any decisions makes a lot of sense.
The dollar index aims to recapture 111.00 amid risk aversion, hawkish Fed bets are reduced.
Pressure conditions near 111.00, lower support near 110.00.
