Powell spoke before the senate on March 7 Powell: New data suggests “the ultimate level of rates is likely to be higher than previously anticipated.”
“If the totality of the data were to indicate that faster tightening is warranted, we would be prepared to increase the pace of rate hikes.”
DXY breaks 105, while other major currencies break down, GBP hits a new low of 1.18
The new peak rate is 5.60% in the futures market.
Currencies: (Source: Trading View)Meeting Probabilities: (Source: CME Fed Watch Tool)