Dollar Falls as Prospects of Two Fed Rate Cuts This Year Reemerge
Dollar concluded last week with significant losses, influenced by a set of factors that realigned market expectations and investor sentiment. A pivotal moment came with Fed Chair Jerome Powell's much less-hawkish-than-feared remarks at the FOMC press conference, coupled with disappointing US employment figures. These developments led markets back to anticipate two Fed rate cuts by year-end. This recalibration in interest rate expectations spurred a rally in US stocks and a marked reduction in Treasury yields, which in turn exerted additional downward pressure on the Dollar.
Source: actionforex.com