Market news
11.05.2023, 08:39

Dollar unable to recover more at the moment due to uncertainty surrounding the debt issue – Commerzbank

On the inflation front, progress is slow. Antje Praefcke, FX Analyst at Commerzbank, believes that the debt ceiling issue is dampening the Dollar at the moment.

Caution about rapid rate cuts in the US

“On a MoM comparison the inflation for both rates remained stubbornly at 0.4%. That means that price pressure in the US is falling, but only very, very slowly. In the face of an inflation rate falling this slowly, and remaining well above the inflation target, the Fed would probably not consider cutting its key rate again in the autumn.”

“I think inflation will have to weaken considerably more before the Fed considers first rate cuts. The Dollar is unable to recover more at the moment due to the uncertainty surrounding the debt issue.”

 

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