USD at two-month high as Fed eyes more rate rises
The minutes of the last Federal Reserve meeting showed the consensus was that more rate hikes could be necessary unless conditions change.
That discussion came during the two-day July meeting which resulted in a quarter point rate rise to between 5.25 and 5.5%, a rate hike that markets generally expected to be the last one of this cycle. However, with most Fed members suggesting that they foresaw further upside inflation risks, further tightening could be merited.
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