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Dollar Ends Higher and Gold Falls on Hawkish Fed Comments

Dollar Ends Higher and Gold Falls on Hawkish Fed Comments
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Dollar Rebounds, Gains Against Major Counterparts

Dollar Rebounds, Gains Against Major Counterparts
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We Now Expect Two Rate Cuts from Fed This Year

We revise our Fed call to 2 rate cuts of 25bp this year in September and December. It will be a close call between July and September but with macro indicators showing no signs of sudden weakening, we lean towards September as our base case.

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Pound Shrugs as Construction PMI Jumps

Pound Shrugs as Construction PMI Jumps
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Pound shrugs as construction PMI jumps

The British pound is slightly lower on Tuesday. GBP/USD is down 0.21%, trading at 1.2535 in the European session at the time of writing. The UK construction

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