In case you missed the latest weekly FX market summary, Uncle Sam's slightly weaker economic data has traders holding off on a rate hike or even a rate cut from the Fed. Fortunately for USD bulls, Fed members also came out and hinted at a “higher for longer” interest rate environment which helped limit USD losses. On the other hand, the British pound was second only to the New Zealand dollar in terms of overall strength as sterling bulls benefited from the overall risk-friendly, anti-US dollar environment. This is after Bank of England (BOE) chief economist Huw Bell suggested we could see interest rate cuts as early as the summer!
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