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
Bitget Spot Margin Announcement on Suspension of ELX/USDT Margin Trading Services
Enjoy perks for new grid traders and receive dual rewards totaling 150 USDT
Bitget Spot Margin Announcement on Suspension of BEAM/USDT, ZEREBRO/USDT, AVAIL/USDT, HIPPO/USDT, ORBS/USDT Margin Trading Services
Bitget Spot Margin Announcement on Suspension of MAVIA/USDT, BADGER/USDT, BAN/USDT, PONKE/USDT, FLOCK/USDT Margin Trading Services
