Dollar: When Will The FED Raise Rates?

The fragmented price action in the forex markets reflect the sharp disparity between what is happening in the North America and Asia with that of Europe. The dollar traded lower against all of the major currencies except for the euro and British pound. Growing concerns about fiscal deficits has scared investors from putting their money into Europe because at any point in time, a downgrade could be announced by rating agencies. Until this risk evaporates, there will probably be more demand to sell euros and pounds. Meanwhile, last Friday’s better than expected non-farm payrolls report has traders talking about the timing of the Federal Reserve’s rate hike. With no major U.S. economic developments to talk about today, we thought it would be interesting to take a look at what the market is pricing in for the Federal Reserve this year.

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