Dollar Sentiment Surges as Traders Shift Rate Cut Bets

Bullish sentiment towards the dollar has reached its highest level in three weeks, according to data from BlockBeats. This indicates traders are anticipating that Federal Reserve Chair Jerome Powell will not adopt a highly dovish approach concerning interest rate cuts. Recent data suggests a significant shift in trader expectations regarding future rate changes. The market now anticipates a cumulative 47 basis point reduction by year’s end, down from 63 basis points just over a week ago.