Mitsubishi UFJ: The US dollar remains fragile after the Federal Reserve cuts interest rates by 50 basis points

On September 19, Jin10 Data reported that Mitsubishi UFJ Financial Group stated that the rebound of the US dollar is unlikely to continue after the Federal Reserve cut interest rates by 50 basis points, because the US dollar is still vulnerable to further interest rate cuts reflected by the US interest rate curve. Analyst Derek Halpenny of the bank said in a report, "The concept of 'buying rumors and selling facts' may further trigger US dollar buying in the short term, but if this trading momentum is strong, we will be surprised." He said that the speed of the Federal Reserve's interest rate cuts may be faster than expected, and faster than the overnight indexed swap curve in the forward period.