US Dollar: Warsh message supports limited upside – MUFG

MUFG’s Derek Halpenny notes the US Dollar is holding most of its post-FOMC gains after a 25bps hike and hawkish guidance from Fed Chair Warsh. The Fed’s projections imply only gradual disinflation and a higher long-run rate, but market pricing had already anticipated more tightening.

Gold impact rationale

Rising rate-hike or hawkish expectations increase gold's opportunity cost.

• Source: FXStreet news
• 2026-09-17
• rates

Topics: gold news, gold price impact, rates