Monex Europe said in a report that the dollar could recover from its current severe decline as expectations of U.S. rate cuts appear overdone, and the dollar could benefit from safe-haven flows. Analysts said recent weak U.S. data has led the market to raise expectations for rate cuts for the rest of 2024 to five from three previously. In the absence of recession risk, this expectation appears too aggressive, and data last week showed no signs of a slowdown. Even if the U.S. economy were to fall into recession, the dollar could rebound on safe-haven demand, they said. (Jinshi)