Currency Buzz: Dollar Index Slides Post Fed Decision

28 Jul 2022 , 09:09 AM

The dollar index is languishing near a week low at 106.08, tracking lower treasury yields following Fed rate decision. US benchmark treasury yields have eased to 2.7%.The Federal Reserve on Wednesday announced its decision to raise interest rates by 75 basis points. The Fed said it decided to raise the target range for the federal funds rate to 2.25 to 2.50 percent in an effort to achieve its dual goals of maximum employment and inflation at a rate of 2 percent over the longer run. The decision to continue raising interest comes even though the Fed acknowledged that recent indicators of spending and production have softened, leading to concerns about a potential recession. Powered by Commodity Insights