- With rising predictions that the Federal Reserve is finished tightening policy and may begin lowering interest rates next year, the dollar dropped along with Treasury yields.
- The US dollar fell against all of its peers in the Group of Ten and against the majority of its Asian emerging-market equivalents for a sixth day.
- The tone of Chair Powell's speech on Friday will be closely watched to determine whether there is a clear shift towards relaxing, according to a note from Daragh Maher, HSBC's head of FX strategy for the US. "This would definitely be a challenge to our bullish view of the US dollar if it materialises."
- The Aggregate bond index is up 4.9% in November and is headed for its highest level of performance since December 2008, following the release of data that suggested weaker economic growth and slower inflation. The Fed's latest round of dovish comments and billionaire investor Bill Ackman's wager on rate cuts sooner than expected preceded the rally.
- This month, the MSCI All Country World Index of stocks has increased by 8.8%, the biggest since November 2020.
