Quick Take
- Powell spoke before the senate on March 7
- Powell: New data suggests “the ultimate level of rates is likely to be higher than previously anticipated.”
- “If the totality of the data were to indicate that faster tightening is warranted, we would be prepared to increase the pace of rate hikes.”
- DXY breaks 105, while other major currencies break down, GBP hits a new low of 1.18
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