News that the USA is in a technical recession caused the dollar to weaken across the board.
Despite the Federal Reserve’s attempt to rebalance supply and demand within the US economy, its policy of rapidly raising interest rates has, in the opinion of President Biden, caused the recession.
In the wake of the Federal Reserve’s interest rate-hike decision, the prospect of ending the aggressive rate-hiking cycle seems to be on the horizon for the US businesses and consumers.
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