- Dollar off highs, stocks turn positive as China reopening chatter lifts mood
- But NFP report could bring Fed tightening fears back into the fore
- Pound left reeling after BoE hikes big, warns of long recession
Hopes of China reopening ease Fed gloom
The run-up to the Fed meeting and its aftermath was a rollercoaster ride that didn’t end well for stocks. Investors hoping for a dovish pivot instead got a Fed chief leaning further towards the hawkish end of the spectrum. But markets have found something to celebrate ahead of the all-important payrolls report out of the United States later today.