The greenback was lower or unchanged against the other G10 currencies, still weighed on by the elevated expectations with regards to US interest-rate cuts. Today, USD-traders are likely to pay attention to a speech by Fed Chair Powell, as they may be eager to find out whether the Fed will indeed push the cut button at its upcoming gathering in July. As for tonight, focus will turn to the RBNZ rate decision. Following May’s cut, Kiwi traders will likely be looking for clues as to whether another decrease at one of the upcoming gatherings is looming.
Fed-cut Expectations Keep Weighing on USD, Chair Powell Speaks
The dollar traded lower or unchanged against the other G10 currencies on Monday and during the Asian morning Tuesday. It underperformed versus CHF, SEK, NZD, JPY and EUR in that order, while it traded virtually unchanged against GBP, AUD, CAD and NOK.
It seems that the greenback continued feeling the heat of the FOMC’s decision to lay the groundwork for interest rate cuts. Remember that at last week’s meeting, the...
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