Hot-money traders are wagering on no surprises from the Federal Open Market Committee when they wrap their two-day meeting on Wednesday, with the expectation that the central bank will keep interest-rate increases on a gradual path. That has emboldened extreme bearish dollar and bullish long-term Treasury debt positions. The Fed will likely be as "vague and flexible as possible" because "if they catch the market on the wrong foot, we’d have some pretty big moves," Max Kettner, a cross-asset strategist at Commerzbank AG.
Source: Bloomberg Pro Terminal
Trader - S. Fuchedzhiev
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