A bearish dollar view benefits GFT
CURRENCY FORECASTS
According to Paul Jamgotch, managing FX dealer at the online currency trading company in Ada, Michigan, Federal Reserve interest rate hikes had been overplayed. In the past few weeks, Jamgotch had even begun anticipating a reduction in US rates.
He said this dovish bias may be seen in the Fed fund rates, with the market now priced for a 60% chance of a rate reduction at the Federal Open Market Committee meeting in June. This view has been supported by US dollar selloff over the past few weeks.
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