Fed traders betting 96% on rate cuts - here's why USD/JPY just hit 146.20
Key Points
- The dollar is struggling due to high expectations of a 25 ba...
The dollar is having the kind of week that makes you question whether your trading app is broken. USD/JPY just kissed 146.20, and it's not because the yen suddenly discovered superpowers. The real culprit? Traders are practically unanimous that the Fed will cut rates by 25 basis points today, with a 96% probability priced in according to CME's FedWatch tool - which, let's be honest, has become more reliable than your weather app.
The dollar's troubles run deeper than a tourist's pockets in Tokyo. Recent data revealed that the US labor market was essentially wearing makeup for the past year - ...
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