According to UBS: “The data is going to need to change a lot of minds to bring people back to cutting in September, and start doing so in the next two months, in our view, to realistically put September on the table.”
The inflation report yesterday certainly helps but there needs to be more of that in the months ahead. Otherwise, the argument remains that we are closer to zero to one rate cuts than we are to two to three rate cuts in my view.
This article was written by Justin Low at www.forexlive.com.
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