ING: US Dollar May Face Further Downward Pressure

Odaily News According to Chris Turner, an analyst at ING, the sell-off in the US dollar could intensify. If the US Dollar Index effectively breaks below last year's low around 96.2, the dollar could fall by another 3%. It is crucial to monitor the dollar's performance ahead of the Federal Reserve meeting; if the Fed pivots to pausing interest rate cuts, it could provide some support for the dollar. However, he emphasized that if any rebound is weak and the dollar closes lower on the day, it would send a strong bearish signal. Meanwhile, earnings reports from Meta, Microsoft, and Tesla are also in focus. Any earnings disappointments could become another negative factor for the dollar, as US consumption largely depends on stock market performance. (Jin10)