Dollar bulls focus on upcoming U.S. employment data guidance
According to Golden Ten Data, Derek Halpenny from Mitsubishi UFJ Bank stated in a report that if the upcoming U.S. employment data is strong enough, it could further lower expectations for a Federal Reserve rate cut, causing the dollar to rise. He pointed out that if nonfarm payrolls are robust and wage growth accelerates, the market may reduce bets on rate cuts and push the dollar higher. However, he also cautioned that, considering the potential impact of Middle East conflicts on business activity, Friday's employment data "may be the best result we can see for some time."
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