The US dollar faces further downward pressure and may drop another 3%.
ChainCatcher News, according to Golden Ten Data, ING analyst Chris Turner pointed out that the wave of US dollar sell-offs may intensify. If the US Dollar Index effectively breaks below last year's low near 96.2, the dollar could fall another 3%. He emphasized that it is crucial to pay attention to the dollar's performance ahead of the Federal Reserve meeting; if the Fed shifts to pausing rate cuts, it may provide some support for the dollar. At the same time, the earnings reports of Meta, Microsoft, and Tesla are also under the spotlight, as any results below expectations could become another bearish factor for the dollar.
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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