Economists at ING suspect it may be too early to see the deterioration in US activity necessary to drag USD sustainably lower.
Spotlight turning to Federal Reserve Chair Jerome Powell at the IMF conference
We are inclined to think it is still too early to see another large drop in the Dollar because the US activity story simply hasn’t deteriorated enough.
This week, we will hear from Fed Chair Jerome Powell at the IMF conference, along with many other members. Some pushback on the post-Fed dovish market reaction may be on the cards and could help the Dollar recover some ground.
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