ING: If Powell continues his cautious tone, the dollar may strengthen further

ING Bank analyst Francesco Pesole said the dollar could strengthen further if Federal Reserve Chairman Powell maintains a cautious stance on rate cuts in his speech later this week. Pesole noted that due to the delay in the release of official employment data due to the US government shutdown, Powell is likely to maintain his previous cautious tone. "During the data gap, this impact is likely to continue to play out in the market, and the dollar faces some upside risks." However, he added that once the data is released, if it shows a deterioration in employment conditions, the dollar could weaken and reach a new low by the end of the year. (Golden Ten)