Dollar falls as markets see greater likelihood of Fed rate cuts

Odaily Odaily News: The dollar fell as the market believes that the Federal Reserve is more likely to cut interest rates by 50 basis points rather than 25 basis points this week. LSEG Refinitiv data shows that the market currently believes that the probability of the Federal Reserve cutting interest rates by 50 basis points is close to 70%. Swissquote Bank analyst Ipek Ozkardeskaya said in a report: "I still firmly believe that a 25 basis point rate cut would be the best option because the current economic data is not worrying. However, the Fed may want to avoid market disappointment with a 25 basis point rate cut, while some Democrats' demands for a 75 basis point rate cut are adding fuel to the fire." (Jinshi)