Fed reaction function clouds dollar outlook – MUFG
MUFG’s Derek Halpenny says the Fed’s decision to hold rates, combined with Chair Warsh’s unclear justification, steepened the Treasury curve and weakened the dollar. Rising inflation expectations and concerns over Federal Reserve (Fed) credibility now point to further depreciation risk. Fed uncertainty weighs on Dollar “The long-end of the US Treasury bond market sold off last night taking the…










