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EBC Daily Snapshot Jul 10, 2024

EBC Forex Snapshot 10 Jul 2024 The dollar was on the front foot on Wednesday after Fed Chair Jerome Powell said a rate cut is not appropriate until the Fed gains "greater confidence" that inflation is headed toward the 2% target. Traders now have around 73% odds for a rate cut by September, CME FedWatch tool showed, with a second reduction mostly priced in by December. The Swiss franc rallied after falling for two straight days. Swiss inflation unexpectedly eased last month. Consumer prices rose 1.3% from a year ago, less than economists estimated and down from the fastest clip this year. EBC Financial Market Forecast Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC Economic Research Findings or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

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Publication date:

2024-07-11 07:33:19 (GMT)

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