Investors will shift down a gear ahead of the weekend

On the foreign exchange market, the dollar temporarily hit a two-month low after several Federal Reserve officials indicated that the end of the tightening cycle was near. On the market, too, stockbrokers are currently expecting the Fed to raise interest rates again in around two weeks, but see no further upward steps after that. Rather, an initial reduction is anticipated for March 2024, said Stanzl. “As a result, investors seem to know more about the future course of monetary policy than members of the Federal Reserve Open Market Committee – a curious situation that is also prone to surprises.” The dollar index, which measures the value of major currencies, initially fell to 101 .66 points, but then recovered to 101.86 points. The euro was 0.1 percent lower at $ 1.0986.