Global Markets Price Aggressive Hikes; Dollar Risk Ahead of Fed Decision

Markets have priced in over 90% probability of a Fed rate hike, the first since July 2023, but the dollar's direction hinges on global central bank actions. The article suggests that aggressive tightening expectations worldwide pose a risk to the dollar, as relative rate differentials may shift. The Fed decision at 20:00 is the immediate catalyst, but the broader global tightening cycle is the key uncertainty.