Weekly EURUSD, GBPUSD, USDJPY Forex Analysis March 13 – March 20, 2023
Central bank rate hikes are also being massively repriced. This is the other cause of the big moves in markets today. The moves are huge (as can be best seen in bond markets), with investors now expecting again the Fed to be cutting rates by the end of the year. What a week it has been. During Powell’s testimony last Tuesday, the market repriced higher for the Fed to hike by 50bp on March 22. Three days later, the consensus market expectations for the March 22 meeting are for the Fed to hike by 25bp or hold rates unchanged!