CMC Markets: dollar to weaken as Fed halts rate hikes

Other central banks will follow the US lead and not tighten monetary policy further in 2019

Federal Reserve - autumn_credit Fed Reserve.jpg
Federal Reserve: “There is more downside risk to US rates than there is to the upside,” says CMC’s Michael Hewson
Federal Reserve

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The dollar is set to weaken in 2019, as the US Federal Reserve ends its interest rate-hiking path and keeps US rates between 2.25 and 2.50 for the foreseeable future, says Michael Hewson, chief market analyst at CMC Markets.

“I think the Federal Reserve is done when it comes to rate rises,” says Hewson. “I don’t think there are any conceivable scenarios where they can tighten any further, given the economic data

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