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US Dollar: Bullish outlook maintained as FOMC holds rates – HSBC
With US economic activity described as strong and inflation elevated, the Federal Reserve held rates at 3.75-4.00% while signalling that a December hike remains possible. HSBC’s FX Viewpoint, dated 2 November 2026, assesses the latest FOMC decision and the outlook for the Dollar. Despite the potential for volatility along the way, HSBC retains its strong USD view into 2027.
Dollar strength holds as Fed leaves rates unchanged
"At its 27-28 October meeting, the FOMC voted 10 to 2 to hold the federal funds target range steady at 3.75-4.00%, in line with expectations."
"The accompanying statement left the door open for a December hike."
"The USD is likely to face a bumpy road into year-end."
"We have maintained our strong USD view for several months, supported by US economic resilience, a hawkish Fed, and challenges facing other major currencies."
"That view remains intact as we head into 2027, although the path is unlikely to be smooth."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
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