Market analysis: Hawkish Powell halts the decline of the US dollar index, and the atmosphere of "selling the United States" still exists
recent selling of the US dollar has paused as investors weigh the latest trade developments in the United States and comments from Federal Reserve Chairman Powell. Trump said that there has been "significant progress" in trade negotiations with Japan. Powell warned that tariffs could lead to higher inflation and stated that the Fed's obligation is to maintain long-term inflation expectations "well anchored". Pepperstone strategist Michael Brown said that due to the continued atmosphere of "widespread selling of the US", the dollar still faces further declines. However, a sharp devaluation of the dollar in the short term may cause the "downward momentum to pause".
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