Federal Reserve (Fed) Bank of New York President John Williams said on Friday that the central bank may be done raising interest rates since inflation
"Monetary policy is having the desired effects on the economy.""Fed will need restrictive policy stance for some time to achieve goals.""Future is uncertain, data will drive future policy choices."Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.The AUD/USD pair trades sideways below the mid-0.6400s during the early Asian session on Monday. The Australian Dollar sell-off pauses due to the upbeat Chinese PMI data. However, the stronger UD Dollar might cap the upside of the pair. The EUR/USD plummeted to 1.0487 on Wednesday, its lowest since early March, as investors continued to seek refuge in the US Dollar.
Despite holding resilient in the face of a hawkish Federal Reserve outlook in the previous week, Gold price suffered heavy amid broad-based US Dollar strength and surging US Treasury bond yields. XAU/USD staged a modest rebound on Friday but ended up losing more than 2% for the week.Polkadot price seems to be ending its downtrend after shedding 92.91% in the last two years from its all-time high of $55.09. In the last three days, DOT has inflated by 3.
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