Monex: The Fed is expected to cut interest rates by 25 basis points in September, November and December, slightly lower than the market's current expectations

Monex Europe said the dollar could rise if U.S. retail sales data prompts the market to reduce expectations of overly aggressive rate cuts from the Federal Reserve. Data released later could show a modest rise in consumer activity in July, reinforcing the message that the U.S. economy is still expanding, Monex analysts said in a report. "If we are right, the market should continue to align with our view of an accommodative Fed policy, and we expect this dynamic to be positive for the (dollar)." Monex expects the Fed to cut interest rates by 25 basis points in September, November and December, slightly less than the market currently expects. (Jinshi)