The US dollar shed some value against rival currencies as investors continued to bet that the Fed is nearing the end of its tightening cycle.
Wednesday’s data on quarterly GDP growth will be a major barometer for the impact of interest rates on economic activity. Markets forecast growth to hit 4.9% in Q3, well above the 2.1% recorded in Q2. Should those figures surprise to the upside, expect renewed US dollar volatility as markets fret about interest rates.
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