Eyes 4.20/USD as Fed cuts loom, Trump rattles greenback confidence
Performance: The ringgit traded between 4.21-4.24/USD this week, lifted early on by rising expectations of Fed rate cuts after Powell’s dovish tilt last Friday.
Market Dynamics: Political uncertainty in France and the US stirred volatility across markets. The USD briefly weakened after Trump moved to oust Governor Cook from the Fed board, while the EUR fell on French political turmoil. However, the greenback regained ground after consumer confidence and durable goods orders beat expectations. In emerging markets, the PBoC’s lower yuan fixing supported sentiment and drew capital inflows.
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