The US dollar is currently experiencing significant volatility, exacerbated by dovish comments from Federal Reserve Chair Jerome Powell, indicating potential aggressive rate cuts.
Fed officials have suggested that anticipated rate cuts, perhaps starting as early as September, are driven by concerns over the labor market and the need for economic support.
Market predictions show a lower probability for a 50 basis point cut compared to a 25 basis point cut at the upcoming Federal Reserve meeting.
The expected easing cycle is likely to maintain downward pressure on both the US dollar and Treasury yields, reacting to the forthcoming PCE data.
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