Abdelaziz Albogdady: Dovish signals from the Federal Reserve may trigger a sell-off of the US dollar
ChainCatcher News, according to Golden Ten Data, FXEM analyst Abdelaziz Albogdady stated that although the US dollar has stabilized after falling to multi-year lows, it still faces downside risks. The weakness of the dollar is mainly due to Trump's remarks signaling tolerance for currency depreciation, raising market concerns that Trump may nominate a more dovish Federal Reserve chair, which would imply looser monetary policy and reduced institutional independence. In addition, widespread unease about domestic political risks in the United States continues to put pressure on the dollar. Any dovish tendencies could further intensify the downward pressure on the dollar and US Treasury yields.
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