Analyst: The weakness of the US dollar may have been excessive
Swissquote Bank analyst Ipek Ozkardeskaya said that the dollar fell as investors expected Federal Reserve Chairman Powell to clearly signal an imminent rate cut at the Jackson Hole symposium on Friday, but the weakness seems overdone. She said that the performance of the U.S. economy is better than most other countries, and just based on this point alone, there is no reason for the Federal Reserve to cut rates more significantly than other central banks in the coming months.
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