Is it all over for the dollar? – This weeks big picture 10th June
The dollar has come under pressure following Friday’s poor Non-Farm payrolls data, is this the time for it to roll over? As I mentioned last week there are at least cuts priced in during the summer. Whilst Fed Chair Powell suggested that they may have to do what is needed to ensure that the economy continues to grow, he did not let on that cuts in rates were imminent. An important factor to take into account is that the US is still growing at a larger extent than other world economies which may see rallies of others currencies cut short.