The Fed will withdraw interest rate hikes as soon as possible

In the Asian session on Friday (April 14), the U.S. dollar index fell, with the latest price of the U.S. dollar at 100.95, a drop of 0.06%. Investors sold off the U.S. dollar index on Thursday after the U.S. economy performed worse than expected.

Federal Reserve Chairman Jerome Powell has been aggressively raising interest rates in China since last year to bring stubborn inflation down to desirable levels. U.S. inflation is confidently weaker, led by lower gasoline prices, higher interest rates, and now tighter credit conditions. As a result, investors expect the rate-hike ceremony to be paused to protect the economy from a severe slowdown.