Dollar Rises as AI Sentiment Improves Ahead of Fed Decision
Dow Jones10-28 15:41
0741 GMT - The dollar rises to a two-week high against a basket of currencies as sentiment towards AI stocks recovers ahead of the Federal Reserve's policy decision at 1800 GMT. AI company Anthropic's initial public offering filing on Monday revived optimism over the sector. Attention now turns to the Fed's decision where markets see a 90% chance that rates will be held steady but price over 70 basis points of tightening over the next year, LSEG data show. "Markets are fully locked into the idea of quarterly hikes with exactly 50 basis points priced in by March, in line with our call," Danske Bank's Jesper Fjarstedt says in a note. The DXY dollar index rises to as high as 102.491.
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