Trade War Keeps US Dollar’s Gains in Check, Gold Prices Soar
The US dollar (UUP) had started firming up in February and early March after a disappointing 2017. After the Fed’s decision, the dollar fell 0.7% to 83.5 as the committee suggested only two more hikes. We saw the currency’s largest one-day decline since the end of January. The Fed’ stance was slightly less hawkish than expected in the near term, which led to weakness in the US dollar.