The US dollar’s recovery faltered during Asian time on Friday, following a tweet from the Wall Street Journal’s (WSJ) chief economics correspondent and US Federal Reserve (Fed) watcher, Nick Timiraos.
Timiraos tweeted: “Goldman Sachs reports that its intraday estimate of US financial conditions from its Financial Conditions Index was lowered by more than 50 basis points today following the recovery triggered by October’s CPI. It is the third largest daily decline on record.
The tweet from the US Federal Reserve, citing Goldman Sachs, suggests that the easing of the financial conditions index could temper the Fed’s expectations of a lower interest rate hike, again disconcerting the markets.
Dollar bulls lack recovery momentum as investors digest the latest WSJ headlines. The indicator is trading almost unchanged on the day at 108.22 at the time of writing, having stalled its rebound near 108.45.
Source: Fx Street
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