Market Comment | The Fed’s dovish tone dragged down the USD and US yields

Summary

As expected, the FOMC left interest rates unchanged and reinforced the “pause” in its tightening path. Judging from market reaction, the FOMC sounded more dovish than had been expected as it hinted at a longer pause. In this context, the USD and US yields fell, and US stocks rose. Today, the USD and US Treasuries yields remained at their recent lower level

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