If Powell remains cautious, it may provide short-term support for the dollar

ChainCatcher news, according to Jin10, Dutch cooperative bank forex strategist Jane Foley stated that if Federal Reserve Chairman Powell remains cautious about interest rate cuts in the upcoming speech, speculators may close their previous short positions on the dollar in the short term. Both the market and the Dutch cooperative bank expect the Federal Reserve to cut interest rates in September, reflecting a weakening labor market. Foley pointed out that Powell may still maintain a cautious stance on policy easing when he speaks at the Jackson Hole central bank annual meeting this Friday, and this position may provide support for the dollar in the short term.