0036 GMT - The USD edges higher after the Fed's "hawkish hold," with the new 2024 median dot narrowly favoring only one 25bp cut this year, HSBC Global Research says in a note. HSBC's Daragh Maher, head of research, and Paul Mackel, head of FX research, say they expect the USD to remain strong, underpinned by supportive yields, their forecast of just one rate Fed cut this year and monetary easing outside of the U.S. However, they expect the scale of any USD gains is likely be constrained by the buoyant level of risk appetite and signs of improving economic growth outside the U.S. (monica.gupta@wsj.com)
(END) Dow Jones Newswires
June 12, 2024 20:36 ET (00:36 GMT)
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