Institutions: Strong non-farm payrolls data failed to stem the dollar's decline; bearish sentiment is "deeply entrenched."
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According to ME News, on February 13 (UTC+8), the US dollar weakened despite signs of resilience in the US labor market suggesting the Federal Reserve may remain on hold for an extended period. Corpay strategist Carl Shamotta stated, "This indicates that bearish sentiment is deeply entrenched and serves as a warning to those, including ourselves, who expect strong US fundamentals to provide support. By historical standards, the dollar's decline so far has been modest, and further downside potential remains if market sentiment does not change." (Source: ME)
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