Investors punish the US Dollar as economy shows signs of stalling.
The US Dollar is looking weaker as the weeks roll by and economic data from the world's largest economy continues to be weak. There is no doubt that the US economy contracted in the first quarter, going by the recent weak data posted.
There is no doubt that a June rate hike is definitely off the table, unless we get to see a miraculous turnaround for May and June, and that includes a stronger jobs report (similar to what we saw during the first quarter of this year) and an overall pickup in retail sales and more importantly inflation. But this scenario looks a bit farfetched and in the longer perspective, the current decline in the Greenback could possibly be attributed to the markets pricing in no rate cut in June.
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Official Representative of HiWayFX