Dollar hurt as Fed hands out no-March-rate-hike candy to appease market

The US dollar found itself under pressure this week as despite a run of relatively positive economic numbers, the Fed hinted that the March meeting will not really be a ‘live’ one. That is to say, a rate hike will not be on the table with markets giving a less than 1 in 20 chance for the Fed to raise rates. As a result the dollar fell while interestingly both stocks and gold managed to rally. The week’s data included a relatively positive employment report for February (with the exception of hourly wages and number of hours worked), a weak...