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Analyst: US Dollar Expected to Achieve Third Consecutive Week of Gains
Summary: According to sources, the US dollar is expected to achieve a third consecutive week of gains on Friday. Prior to this, strong economic data released by the US reduced market expectations of a near-term interest rate cut by the Federal Reserve. Expectations in the federal funds futures market for the next rate cut have been ...
According to sources, the US dollar is expected to achieve a third consecutive week of gains on Friday. Prior to this, strong economic data released by the US reduced market expectations of a near-term interest rate cut by the Federal Reserve. Expectations in the federal funds futures market for the next rate cut have been pushed back to June, as employment data improved and central bank policymakers expressed concerns about inflation.
Analyst Kyle Rodda from Capital Corp noted in a report that the US dollar has shown resilience, with weekly initial jobless claims and manufacturing survey results both exceeding expectations, reducing the probability of a rate cut.
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Link: Analyst: US Dollar Expected to Achieve Third Consecutive Week of Gains [Copy]
