Market rate cut bets now aligned with Fed forecast; USD/INR downside limited

Market Creators

23/02/2024 04:15

* Market pricing of total Fed rate cuts this year now at 78
bps
 FEDWATCH 
    * Fed in Dec had forecast 75 bps rate cuts in 2024
    * At beginning of year, investors had priced in 7 rate cuts
this
year amounting to 175 bps 
    * Persistent push back from Fed on rate cuts, US labor
market
holding up and January US inflation print prompt investors to
reassess rate path
    * Fed's Waller on Thu said he sees no rush to cut interest
rates
    * Dollar well supported on ongoing repricing of Fed outlook,
USD/INR downside from current level limited, trader says
    * USD/INR  INR=IN  at 82.8725
    * For more click on  FXBUZ  


 (Reporting by Nimesh Vora)
 ((nimesh.vora@tr.com))