Getting dollar's trajectory right is important for investors due to its role in world economy
NEW YORK – The US dollar's decline is gaining speed as anticipated interest rate cuts by the Federal Reserve threaten to end the greenback's years-long period of strength.
"We've always had the view that almost regardless of other circumstances, once the Fed starts cutting rates, that the dollar would lose ground," said Brian Rose, senior US economist at UBS Global Wealth Management. "We still have that view." Investors, however, are betting on big rate cuts ahead. Futures tied to the Fed's key policy rate show traders pricing in around 100 basis points of cuts this year, compared to about 60 basis points for the European Central Bank.
"While the Fed's long-telegraphed move in September does spell some dollar weakness in the fourth quarter, this recent move we've seen is a bit of an overreaction," said Helen Given, associate director of trading at Monex USA.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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