US Dollar Rebounds Slightly After Trump Assassination Attempt
US Dollar Index rebounds after an assassination attempt on Trump. Despite this, investor optimism remains high with anticipated Fed rate cuts by year-end.
Published on 17 July 2024
1 minute read
Here’s this week’s overview of the US Dollar:
In the past week, we saw the US Dollar Index decline by 0.6% against a trade weighted basket of its peers.
Global markets responded positively to the news, with stocks and credit lifting and a clear shift away from the safe haven dollar.
Another major piece of news which made headlines globally was the assassination attempt on Trump which triggered a small dollar rebound, but this has failed to dent investors’ optimism.
A first interest rate cut from the Fed in September is now fully priced-in by markets, with either one or two additional cuts before year end regarded as highly likely.
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