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Analyst: Powell is avoiding any dovish tendencies.
On June 24, some institutional analysts said that it is obvious that Fed Chairman Jerome Powell is currently deliberately avoiding any dovish tendencies. While this is not a surprise and will not be a driver in the FX market, the weak US consumer confidence index for June ahead of the press conference may have pushed the dollar lower. “In addition to the negative structural forces identified in the first half of the year, this rekindles a potentially cyclical bearish situation in the second half,” the analyst added. EURUSD is expected to move smoothly in the range of 1.15 to 1.20 we expect in the second half of the year, and may also move faster than expected. ”