Time to dust off the 'hawkish cut' outlook - September FOMC to lift the USD

Author: Eamonn Sheridan | Category: Central Banks

Morgan Stanley expect the sept September meeting of the Federal Open Market Committee to cut

  • by 25bp
  • But the dot plot published alongside is unlikely to show more rate cuts for the balance of 2019 and into next
  • expects confusing dots reflecting diversity of views on the committee
  • " .... FOMC materials are likely to be insufficiently dovish to meet the market's lofty expectations"
  • "USD is likely to outperform on the day, particularly against risk-sensitive currencies like high-yielding EM FX and the dollar bloc" 
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