US dollar hits reverse gear as Fed cedes rate-rise ‘driver’s seat’

Financial Times/Kate Duguid/1-27-2023

“The US dollar has wilted against its peers in the opening month of 2023 as the Federal Reserve fades as the key driver in currency markets and investors focus on the policies of other major central banks.”

USAGOLD note: This article offers a solid background summary and review of the dollar’s current status along with the relative positioning of the top central banks. Its timing is good for those playing catch-up as we head into this week’s Fed meeting.

line chart showing the dollar index performance over the past five years
Chart courtesy of



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