Reported 19 days ago
In a recent analysis of the U.S. dollar's performance, ING FX strategist Francesco Pesole suggests there could be further downside risk for the dollar following the Federal Reserve's recent 50-basis-point rate cut. He notes the market's initial reactions were muddled, particularly following Fed Chair Powell's hawkish comments. As the 2024 presidential election approaches, Pesole believes that the market sentiment might sway toward short positions on the dollar, making it crucial to watch economic developments leading up to the election.
Source: YAHOO