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USD: MARKETS MIGHT HOLD KEYS TO A 50BP CUT – ING

hagijeee
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The currency market has cemented its view that the Federal Reserve's focus has shifted away from inflation this week. The dollar is trading on the soft side after two above-consensus inflation prints (CPI and PPI), with the impact of the former proving to be rather short-lived. The swap market is currently pricing in 37bp of easing for next week’s FOMC meeting, implying equally split chances of a 25bp or 50bp cut, ING’s FX strategist Francesco Pesole notes.



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