{
  "id": 8003294,
  "title": "FX Daily: As hawkish as it gets",
  "url": "https://urgent.news/2026/09/17/fx-daily-as-hawkish-as-it-gets",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-17T10:00:21.000Z",
  "source": {
    "name": "Hellenic Shipping News",
    "slug": "hellenic-shipping-news",
    "url": "https://www.hellenicshippingnews.com/fx-daily-as-hawkish-as-it-gets/"
  },
  "original_language": "en",
  "account": "The Federal Reserve's recent FOMC meeting was notably hawkish, with a 25 basis point interest rate hike and strong consensus for additional hikes throughout the year. Chair Kevin Warsh reiterated the Fed's commitment to price stability without indicating it's currently too restrictive. The higher growth and inflation projections, coupled with lower unemployment, suggested a reduction in the Fed's \"dose of accommodation.\" This hawkish stance led to a 10-12 basis point jump in the two-year USD swap rate, with market pricing for October at 13 basis points and December at 32 basis points. The dollar rallied broadly, with the DXY reaching a two-month high at 0.6% higher. Analysts believe that the risks for the USD are now more balanced, as the monetary policy boost has been absorbed and the pledge of monetary discipline raises the bar for a return of devaluation trades. However, oil prices continue to support the dollar externally. For the coming months, the baseline forecast remains stabilization around current ranges with a softer dollar into year-end, heavily reliant on a de-escalation in the Gulf. Asian G10 currencies are leading a small rebound due to a recovery in US equity futures. However, the euro faces downward pressure as the Fed's hawkish message is better supported by the euro-zone. EUR/USD dropped significantly, with the short-term fair value at 1.150, a 1% decrease from a week ago. Similarly, the British pound also weakened against major currencies, with a weak Bank of England outlook. The dollar's strength is likely to keep emerging market currencies under pressure for an extended period.",
  "summary": "USD: On a structurally stronger position Everything about yesterday’s FOMC meeting was hawkish. The widely expected 25bp hike was accompanied by a dot plot showing strong consensus for another hike this year. Out of 18, 12 members project one more increase and four project two more this year. Incidentally, growth and inflation projections were revised ...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}