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Week in Review, #FED turns dovish, Market already pricing in rate cuts, #USD plummets


The USD registered its biggest weekly drop in 16 months and registered losses against all of its G-10 peers. The dovish FED meeting saw market participants pricing in FED rates cuts. The Norwegian Krone posted the biggest gains vs the USD amongst G-10 peers after Norges bank hiked rates by 25bps, the Swissie was in second place. Worth noting is that Minneapolis Fed President Neel Kashkari said he pushed for a 50bps rate cut on Wednesday which showcases the coming U-turn in FED policy.

G-10 FX 5D spot return