US Dollar: Strong view intact after FOMC hold – HSBC

HSBC’s FX Viewpoint, dated 2 November 2026, reviews the latest FOMC decision and its implications for the Dollar. The Federal Reserve kept rates at 3.75-4.00% but signalled that a December hike remains possible as US economic activity is described as strong and inflation elevated. HSBC maintains its strong USD view into 2027, while warning that the path may be volatile.