This Monday, the US dollar has come under new selling pressure during the Asian session, after Goldman Sachs will revise downward its expectations regarding the rate hike of the United States Federal Reserve (Fed), given the repercussions of Silicon Valley Bank (SBV).
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“In light of the recent tensions in the banking system, we no longer expect the FOMC to carry out a rate hike at its March 22 meetingwith considerable uncertainty about the way forward beyond March.”
“We hope that the actions of US regulators provide significant liquidity to banks facing deposit outflows and boost depositor confidence.”
“Goldman Sachs now predicts:
- March unchanged
- May +25 basis points
- June +25 basis points
- July +25 basis points
- Terminal rate expected at 5.25% – 5.50%”.
“We see much uncertainty about the path of rate hikes after March“.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
