💨 Abstract

The U.S. dollar hit one-year highs on Friday after a hawkish turn from the Federal Reserve chair, Jerome Powell, who indicated a slower pace of interest rate cuts. This sent short-term Treasury yields higher, leaving Wall Street futures in the red and most Asia markets struggling. The euro suffered heavy losses against the dollar, as expectations for more aggressive policy easing in Europe further undermined the single currency.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖