Dollar holds post-Fed losses
The dollar is back on the defensive this morning as markets absorb yesterday’s unexpectedly-neutral Federal Reserve rate cut as well as a stumble in the overheated US tech complex ahead of next week’s cluster of event risks. Treasury yields are slightly lower across the curve, and traders are assigning a marginally higher probability to additional easing in 2026 after yesterday’s decision landed with a less hawkish tone than many had anticipated. Equity futures are pointing to early losses after Oracle delivered underwhelming cloud-computing results even as it pledged to ramp up capital spending—reinforcing investor concerns about the durability of the...