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The dollar index, which hit a two-week low of 96.648, bounced to 96.824. The greenback fell broadly on Thursday after Williams’ remarks bolstered bets that the Fed would cut interest rates by 50 basis.
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The outlook for the dollar is bullish for the current macroenvironment. It is more than likely that the Fed will decide to cut rates at some point this year. If the Fed doesn’t ease policy.
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AUD/USD consolidates Monday’s gains in tight range. In the minutes of its July meeting, the RBA reiterated that they were ready to cut rates again if needed and that the board would continue to.
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