Dollar Maintains Recent Gains Amid Lower Rate Cut Expectations

According to Odaily, Dutch international forex analyst Turner stated in a report that the US dollar has maintained its recent gains, nearing a two-month high against a basket of currencies. This strength comes as investors have significantly reduced their expectations for US interest rate cuts. Turner noted that while the dollar is expected to remain strong, there is limited room for further appreciation. Data indicates that the US money market anticipates the Federal Reserve will cut rates by less than 50 basis points in its final two meetings of the year. This suggests that there may not be significant adjustments moving forward. The bank also expressed doubts about a substantial rise in US short-term interest rates from this point onward.