U.S.
The bigger-than-expected hike pushed the Japanese yen to a fresh 20-year low of 132.72 against the U.S.
Still, the Atlanta Fed’s GDPNow forecasting tool pegs current U.S. growth at 1.3%, a tally that would indicate a modest rebound from last quarter’s contraction and suggest that a solid economy underpins the current market, and indicates at least some confidence that the Fed can deliver the ‘soft landing’ it’s aiming for.
On Wall Street, futures tied to the Dow Jones Industrial Average indicating a 140 point opening bell dip while those linked the S&P 500 are priced for a 21 point move to the downside.
