LONDON/SINGAPORE—The dollar headed for its longest losing streak in 2–1/2 years on Thursday after the Federal Reserve sounded close to calling time on interest rate hikes, while the Swiss franc edged higher after the central bank pushed ahead with another hike.
The Fed raised its benchmark funds rate by 25 basis points, as expected, but dropped language about “ongoing increases” being needed in favor of “some additional” rises, as it watches how wobbling confidence in banks affects the economy.
Futures imply around a 50 percent chance of one more quarter-point hike, in contrast to Europe where markets see around 50 bps of further tightening….