Silver prices steadied as the U.S. dollar continued to be supported ahead of the minutes of the Federal Reserve's latest policy meeting.
Prices were supported by somewhat dovish comments from Federal Reserve officials who suggested the Fed’s gradual approach to monetary policy tightening should continue.
The more upbeat take on inflation in the minutes of the Jan. 30-31 policy meeting released on Wednesday will likely further cement expectations that new Fed chief Jerome Powell will lead his colleagues in raising interest rates next month.
That led investors to narrow the odds on faster hikes with a host of Fed fund futures hitting contract lows. Three rate rises are now almost fully priced in for this year, compared to two as recently as December.
Prices were supported by somewhat dovish comments from Federal Reserve officials who suggested the Fed’s gradual approach to monetary policy tightening should continue.
The more upbeat take on inflation in the minutes of the Jan. 30-31 policy meeting released on Wednesday will likely further cement expectations that new Fed chief Jerome Powell will lead his colleagues in raising interest rates next month.
That led investors to narrow the odds on faster hikes with a host of Fed fund futures hitting contract lows. Three rate rises are now almost fully priced in for this year, compared to two as recently as December.
No comments:
Post a Comment