The outlook for the US dollar is uncertain - watch for changes in Fed policy
The outlook for the US dollar is not optimistic
According to the latest analysis, the continued downward trend of the US dollar is likely to continue. As of now, the US dollar is approaching the key support level of 100, and if it falls below this level, it may lead to a larger decline.
Investors should pay close attention to the statements of Federal Reserve Chairman Powell. Powell's recent speech at Jackson Hole hinted that the time has come for the Fed to adjust its monetary policy. The market generally expects the Fed to cut interest rates by 100 to 150 basis points before the end of the year.
In addition, the US dollar may face more resistance as the European Central Bank may follow the Fed's pace. At the same time, if the Bank of Japan maintains its monetary policy stance, it may also increase demand for the US dollar.
Taking all factors into consideration, the downward trend of the US dollar may continue in the short term, and investors need to respond with caution. Although the market generally believes that the US dollar will weaken further, the possibility of a partial rebound cannot be ruled out. The key technical support level of 100.6 is worth paying attention to.
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