Clearly you can speculate that 4.75 percent is not the end of Federal Reserve tightening and there is a good argument now that they go to five percent. People don't want to be dollar short at the moment.
More Quotes from Michael Klawitter:
In the euro zone numbers have been better than expected. In respect to the second half of the year the market is too cautious on the ECB and future rate hikes.Michael Klawitter
It's still the aftermath of the jobs data, which came as a bit of a shock. For the dollar, now the focus is on wage inflation and inflation in general.
Michael Klawitter
People would start to worry about growth, and given the fact that the market is already looking for the Fed to end its rate increases this could be a dollar negative. No one would expect central banks to be raising rates in an environment where energy costs are going up sharply.
Michael Klawitter
The growing tension with Iran is likely to be dollar negative news.
Michael Klawitter
They may keep a zero interest rate policy for quite a while. They don't seem in a rush to make the first move.
Michael Klawitter
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