HSBC: The dollar may rise in the short term, but the increase will not last
2025-09-15 15:19:09
The Fed is widely expected to announce a rate cut on Wednesday. Paul Mackel of HSBC said that unless the Fed sends a signal that "more rate cuts are possible in the future", the dollar may briefly rise after the rate cut announcement. He pointed out that the Fed needs to meet extremely high conditions to further boost the already high rate cut expectations. According to data from the London Stock Exchange Group, the market currently expects the Fed to cut interest rates by about 140 basis points by the end of 2026. Based on this background, there is a possibility of a short-term surge in the dollar after Wednesday's statement. But Mackel believes that given the prospect of faster rate cuts in the future, especially if the employment data continues to be weak, any gains in the dollar may be temporary.
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