The Fed's monetary policy decision-making body, the FOMC, is deeply divided. That was probably the most important message from yesterday's meeting and press conference with Fed Chair Jay Powell. According to the Fed Chair, opinions on how to proceed differ significantly.
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is gaining ground after two days of losses and trading around 98.90 during the Asian hours on Wednesday.
Treasury Secretary Scott Bessent has announced the five final candidates to succeed Fed Chair Powell, Commerzbank's Head of FX and Commodity Research Thu Lan Nguyen notes.