US Dollar Dips as Powell Signals Potential Rate Cuts, Driving Forex Market Fluctuations Across Major Currencies
Fed Chair Powell’s dovish remarks have pushed the US dollar lower as markets price in potential rate cuts later this year. The Dollar Index slipped below 105, while EUR/USD, GBP/USD, USD/CAD, and USD/JPY saw notable moves. Key inflation and labor data support this shift—watch closely for upcoming US CPI and jobs reports.