Dollar extends losses after Fed officials hint at near-term rate cut
US dollar fell to a nine-day low against a basket of currencies, after Minneapolis Fed President Kashkari hinted that the Fed may soon resume cutting interest rates. San Francisco Fed President Daly also hinted at a possible rate cut soon. The US employment data released last Friday was weaker than expected, boosting expectations of a rate cut by the Fed in September. Data from LSEG shows that the US currency market currently predicts a 91% chance of a rate cut in September.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
CandyBomb x US: Trade to share 5,400,000 US
[Initial Listing] Bitget to list Almanak (ALMANAK). Grab a share of 4,200,000 ALMANAK
[Initial listing] Bitget to list Cysic (CYS) in the Innovation zone
[Initial listing] Bitget to list Talus (US) in the Innovation and AI zone
