Fed’s Mester: Not anywhere near to stopping rate hikes
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In a CNBC interview, Federal Reserve Bank of Cleveland President Loretta Mester said it makes sense to slow down a bit the pace of rate hikes.
The US Dollar DXY dropped to a fresh low of 106.28 on Friday, extending the post-CPI dump into a fresh layer of potential support. On Monday, the greenback as measured by the DXY index is up 0.85% at the time of writing at 107.87. The catalyst for the move can be partly put down to a risk-off start to the week due to fresh COVID-19 curbs in China that have fuelled worries over the global economic outlook.
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