76 of 82 economists polled by Reuters said that they expect the US Federal Reserve (Fed) to raise its policy rate by 25 basis points to the range of 4.75-5% following the March FOMC meeting. 5 economists expected the US central bank to hold its key rate unchanged while one saw a rate cut.

Moreover, the majority of participants noted that they see the fed funds rate reaching 5-5.25% in the second quarter.

Market reaction

This headline doesn't seem to be having a significant impact on the US Dollar's performance against its major rivals. As of writing, the US Dollar Index was down 0.22% on the day at 104.20.