TechFlow news, July 3 — According to Jinshi Data, ING analyst Turner said in a report that the upcoming U.S. non-farm payroll report will play a crucial role in determining whether the dollar's recent downward trend will continue. Fed Chair Powell believes that persistent inflation and a solid labor market mean interest rates should remain at restrictive levels. "Any downside surprise in the employment report would undermine his stance and push markets to price in rate cut expectations for the July meeting," he said. Unless the employment data is weaker than expected, the dollar may continue to consolidate ahead of the U.S. holiday on July 4.
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