ING Bank: Dollar could fall further if Powell hints at rate cut

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Planet Daily News: Dutch International Bank analyst Francesco Pesole stated in a report that if Federal Reserve Chairman Powell hints at further interest rate cuts during his testimony to Congress tonight at 22:00, the US dollar may further decline. He said that after Fed governors Waller and Bowman supported the earliest possible rate cut in July, Powell's hints about rate cuts have increased. The market might interpret any changes in Powell's cautious stance on rate cuts as a sign that Trump's demand for rate cuts has "broken through the Federal Reserve's independence shield". This could lead to a significant depreciation of the US dollar. (Jintian)

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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