XE Market Analysis: Europe – Nov 29, 2018

The Dollar has come under broad pressure concomitantly with the 10-year U.S. T-note yield falling to a two-month low toward 3% after Fed Chairman Powell yesterday signalled a dovish turn at the central bank by saying that the Fed funds rate was “just below” neutral, revising the previous guidance of being “a long way from.” This powered Wall Street to its biggest single-day rally in eight months, with the main indexes seeing gains of more than 2%. But what was good for stocks wasn’t good for the Dollar.