Published by
Reuters UK
Reuters UK
By Sujata Rao LONDON (Reuters) - The dollar index pulled further away from 20-year highs on Wednesday, having already priced the U.S. Federal Reserve to raise interest rates by a half-point later in the day and by some 250 basis points (bps) by year-end. Currency markets have settled in to wait for the Fed’s 1800 GMT announcement and Chairman Jerome Powell’s news conference, having endured wild gyrations in recent weeks, with the dollar soaring to 20-year highs against a basket of currencies. Money markets are betting the Fed will raise rates as high as 3.6% by the end of 2023 to tame inflatio…
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