Institutions: Strong Nonfarm Payrolls Fail to Halt Dollar's Decline, Bearish Sentiment Already "Deeply Entrenched"

Odaily News Despite signs of resilience in the US labor market suggesting the Federal Reserve may remain on hold for an extended period, the US dollar continues to weaken. Corpay strategist Karl Schamotta stated: "This indicates that bearish sentiment is already deeply entrenched and serves as a warning to those, including us, who expected strong US fundamentals to provide support. By historical standards, the dollar's decline so far remains relatively moderate. If market sentiment does not shift, there is still room for further downside." (Jin10)