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USD Follows Yields Back Down, Goldman Expects No March Fed Hike

FOREX

The USD is following US yield gyrations for the most part. The high in the BBDXY coincided with the 2yr yield topping out above 4.53%, with the yield now back to 4.41%, fresh lows for the session. Goldman Sachs is reportedly stating the Fed won't hike in March now given the recent stress in the US banking system. This appears to be the driver of the abrupt u-turn in US yields and is weighing on broader USD sentiment. The BBDXY now sits back at 1245, versus earlier highs of 1250.

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