💨 Abstract
The US dollar strengthened against major currencies on Tuesday, as Federal Reserve Chair Jerome Powell hinted at smaller interest rate cuts. The yen stabilized after a volatile period due to Japan's new prime minister, while the Australian dollar edged up due to strong domestic retail sales data. Powell said the Fed is not in a rush to cut rates quickly. Traders expect another rate cut in November, but reduced expectations for a 50 basis-point reduction.
Courtesy: theprint.in
Summarized by Einstein Beta 🤖
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