Analysts: Fed Beige Book reinforces rate cut expectations

The US dollar fell after the Federal Reserve's Beige Book report reinforced expectations of further rate cuts. The report showed slowing economic growth, still-weak labor market conditions, and rising input prices. Evercore ISI analysts said in a note that signals regarding tariff transmission were mixed, with some businesses reporting unchanged sales prices and others reporting higher import costs. Overall, the Beige Book "reinforces the view that the economic outlook has remained largely unchanged since the Fed's September meeting." They said this suggests the Fed is likely to cut interest rates by 25 basis points later this month, with a further cut possible in December. (Jinshi)