ING overall expects that the Federal Reserve is determined to cut interest rates and this is a key foundation for their currency forecasts with the dollar forecast to post significant losses over the second half of 2024. According to the bank; “Better activity data and sticky prices have provided support to US rates and the dollar through the early months of the year. But the Fed has now told us it is not impressed by strong employment and that it thinks high early-year inflation may be down to faulty seasonals. A Fed committed to cutting suggests a dollar bear trend now truly starts to emerge.” Crucially, ING sees ... (full story)