Now: Economic Uncertainty Haunting the Markets

Although the market in the risk-aversion state, the dollar unable to gain any momentum from it. One of the reasons is that the demand for the dollar fall after the yield of the US Treasury fall from the peak of 3.06% to the 2.97%.

The GDP forecast by the World Bank has been changed to the smaller figure from 4.1% to 2.9%. The World Bank President state that a fast-paced tightening could push the economic situation into a dire situation as it can lead some countries into debt crisis.

Janet Yellen, the US Treasury Secretary, testified in the Fiscal Year 2023 Budget state that the current US economy is facing “unacceptable level of inflation” and the Fiscal policy must move accordingly to the monetary policy in order to tackle the current situation.