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Strong non-farm payrolls fail to prevent the dollar from weakening; bearish sentiment remains deeply rooted
GateNewsBot
ChainCatcher reports that, according to Jintiao, despite signs of resilience in the U.S. labor market suggesting the Federal Reserve may keep interest rates unchanged for the long term, the dollar remains weak. Corpay strategist Carl Shamota stated that this indicates a deep-rooted bearish sentiment and serves as a warning to those, including themselves, who expect strong U.S. fundamentals to provide support. By historical standards, the dollar’s decline so far has been moderate, and if market sentiment does not change, there is still room for further downside.
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