The S&P 500 continued to decline yesterday, marking its longest losing streak since early 2020. These drops could be related to the Fed’s continued interest rate hikes.
Forex markets are responding to continuing shifts in central bank policies. Currently, the Dollar is on the rise while the euro has hit a downtrend.
A combination of factors have led to the euro losing ground against the greenback. Federal Reserve policy and the EU energy crisis may have contributed.
As inflation reached record levels across much of the developed world in April, it’s looking more likely that many central banks could follow the Federal Reserve’s hawkish turn. Accordingly, the values of several key Forex pairs could be set for a shift.
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