Dutch International: The trend of the US dollar is influenced by expectations of a rate cut by the Federal Reserve

Netherlands International Group analyst Francesco Pesole pointed out in a report that if Federal Reserve Chairman Powell hints at further interest rate cuts while testifying to Congress, the US dollar may continue to fall. Earlier, Federal Reserve officials Waller and Bowman supported an interest rate cut as early as July, increasing the risks of a rate cut hint. The market will interpret Powell's cautious stance on interest rate cuts as a sign of President Trump's pressure on the Fed's independence, leading to a sharp depreciation of the US dollar. Currently, the DXY dollar index is down 0.3% at 98.103, having briefly touched a one-week low of 97.969 earlier due to news of a ceasefire agreement between Israel and Iran.