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Francesco Pesole, an analyst at ING, said in a note that the dollar could appreciate if data released later showed that U.S. core inflation remained high in December. He said that the market generally expects core inflation to be 0.2% and 0.3% month-on-month, with an average expectation of 0.25%. ING expects the data to record an increase of 0.3%, which could increase expectations that the Federal Reserve will take cautious measures to cut interest rates, which could help the dollar appreciate. ...
Francesco Pesole, an analyst at ING, said in a note that the market needs to expect the Federal Reserve to cut interest rates further for the dollar to weaken. Without that, the dollar is more likely to strengthen in the short term. It is possible that the U.S. money market will start to show expectations of unchanged interest rates in November or December. The dollar could also appreciate due to uncertainty ahead of the US Presidential Election.
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