The US dollar is extending its losses following a rate hike delivered by the Federal Reserve on Wednesday. Even as the initial move was USD positive, this did not last long. The prime reason is the shallower path for rate hikes in the following year (the Fed sees only 2 instead of 3 moves). In addition, the lowered long-run rate signals that the US economy is slowing down and this trend is likely to unfold in the quarters to come. The dollar index is falling 0.7% at 1:30 pm GMT while the biggest loss is seen against the SEK after a rate rise in Sweden.
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