Financials May 24, 2022 01:43 AM (GMT+8) · EqualOcean
Wells Fargo believes that in the coming weeks, as investors digest disappointing economic data and the expectation of the hawkish degree of the Federal Reserve reaches the peak, the rise of the dollar will pause and enter the consolidation trend. Erik Nelson, foreign exchange strategist at Wells Fargo, wrote in a report on Monday that the dollar is unlikely to rise in the near future, given that the Fed has hinted that it may raise interest rates by 50 basis points at each of the next two meetings and reduced the possibility of raising interest rates by a larger margin.