The US dollar may come under pressure due to weak economic data, with expectations of interest rate cuts increasing.
According to ChainCatcher, citing Golden Ten Data, XTB analyst Hani Abuagla pointed out in a report that if U.S. economic growth data for the third quarter falls short of expectations, the dollar will face significant pressure. Any signs of economic cooling could reinforce expectations of further rate cuts by the Federal Reserve next year, thereby lowering yields and further weakening the dollar. The reduction in year-end liquidity and changes in global monetary policy may intensify this sensitivity, especially as the recent rate hike by the Bank of Japan could attract capital inflows into the yen.
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.
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