MUFG Sees USD Upside Limited After Hawkish Fed Dot Plot
MUFG analyst Derek Halpenny notes the US Dollar has extended gains following a record hawkish shift in the Fed's dot plot, but sees upside scope as limited. Oil prices remain sharply lower.
USD
Derek Halpenny of MUFG observes that the US Dollar has continued to strengthen after the Federal Reserve's dot plot showed an unexpectedly hawkish tilt. However, he views the potential for further upside as constrained.
The analyst's comments come amid a backdrop of sharply lower oil prices, which have declined over the past sessions. The combination of a more aggressive Fed stance and falling commodity prices may cap the dollar's gains.
Source: FXStreet Forex News