The dollar is always a good barometer of Fed easing or tightening relative to other major central banks. The current story is very clear. The market perception is that the Fed will be easier earlier and more often than other major central banks. Now, the latest comments from a Fed official, Chicago Fed president Goolsbee, state that the market may be ahead of itself and can explain the dollar move higher, but the story is that the markets should expect a Fed that is done tightening.
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