Rosen Bank: Libya formally ceasefire, December rate cut bets heat up, dragging down the dollar

GoldenOctober2024

2024-11-27 08:24:47

According to a report by Ipek Ozkardeskaya, an analyst at Credit Suisse, the dollar weakened due to reduced safe haven demand following the ceasefire between Israel and Hezbollah. Additionally, market expectations of another interest rate cut by the Federal Reserve in February next year increased after the release of the latest FOMC meeting minutes, which also weighed on the dollar to some extent. Ozkardeskaya stated that if tonight’s PCE inflation data does not exceed expectations, investors will continue to support the expectation of a rate cut in December, which could further weaken the dollar.

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