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📰 DOLLAR EASES AS FED RATE CUT LOOKS MORE LIKELY, ELECTION LOOMS The dollar falls as the Federal Reserve looks more likely to cut interest rates in November and less likely to keep them unchanged, XTB’s Kathleen Brooks says. U.S. money markets show only a 5% chance of no rate cut in November, compared to 12% previously, LSEG Refinitiv data show. At the same time, opinion polls suggest a very close race in November’s U.S. presidential election. No clear election outcome would hit sentiment and weigh on growth, potentially leading to more interest-rate cuts, she says. “This election is too close to call, and the prospect of no clear winner cannot be ruled out.” The DXY dollar index falls 0.3% to 104.151

October 24, 2024
Frank

DOLLAR EASES AS FED RATE CUT LOOKS MORE LIKELY, ELECTION LOOMS

The dollar falls as the Federal Reserve looks more likely to cut interest rates in November and less likely to keep them unchanged, XTB’s Kathleen Brooks says. U.S. money markets show only a 5% chance of no rate cut in November, compared to 12% previously, LSEG Refinitiv data show. At the same time, opinion polls suggest a very close race in November’s U.S. presidential election. No clear election outcome would hit sentiment and weigh on growth, potentially leading to more interest-rate cuts, she says. “This election is too close to call, and the prospect of no clear winner cannot be ruled out.” The DXY dollar index falls 0.3% to 104.151