In the Asian session on Wednesday (May 24), the U.S. dollar index first rose and then fell. The latest price of the U.S. dollar was 103.50, a decrease of 0.01%. The dollar strengthened after comments from Federal Reserve officials on Monday suggested that not all policymakers see a pause in rate hikes in June as a possibility.
In that regard, markets may be hoping for more insight from the Fed minutes due out this week. Meanwhile, there was no agreement on the US debt ceiling on Monday, but a somewhat more conciliatory statement from US House Speaker McCarthy may offer hope that a deal is still possible in time. However, the widespread pressure in the banking industry may accelerate the tightening of credit, and the labor market may weaken rapidly in the future. Therefore, it is expected that there is a possibility that the Federal Reserve will cut interest rates within this year.
