Analysts: Dollar falls as likelihood of Fed rate cut in November increases
XTB analyst Brooks stated that the decline in the US dollar is due to the increasing likelihood of a rate cut by the Federal Reserve in November, with a smaller possibility of maintaining the current interest rate. LSEG Refinitiv data shows that the probability of the Federal Reserve not cutting interest rates in November is only 5%, lower than the previous 12%. At the same time, opinion polls show that the competition for the November US presidential election is very intense. She said that the lack of a clear election result will hit sentiment, drag down economic growth, and may lead to more rate cuts.
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