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Viewpoint: US Dollar Could Face Further Downward Pressure
BlockBeats News, January 28th, Netherlands International Group analyst Chris Turner pointed out that a US dollar sell-off may intensify. If the US Dollar Index effectively falls below last year's low near 96.2, the dollar may fall another 3%. It is crucial to monitor the performance of the dollar before the Fed meeting, as if the Fed shifts to a pause in interest rate cuts or provides some support for the dollar. However, he emphasized that if any rebound is weak and the dollar closes lower on the day, it will release a strong bearish signal. At the same time, the earnings reports of Meta, Microsoft, and Tesla are also being watched, as any underperformance may become another bearish factor for the dollar, considering that U.S. consumption is heavily reliant on stock market performance. (FX678)
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