Fed trims rate cut bets as inflation forecast rises. USD reclaims ground on hawkish projections, while US equities rally on lower yields despite hotter inflation outlook
The latest US CPI report missed all market forecasts and sent the US dollar index spinning lower. Later today, the FOMC meeting and economic projections.
Today’s US inflation data for May and the latest FOMC policy decision, including the quarterly Summary of Economic Projections, will be the drivers of market price action over the coming weeks.
