Danske Bank: The US dollar has short-term rebound potential, but will remain weak in the long term

According to ChainCatcher, citing Golden Ten Data, Danske Bank analyst Mohamad Al-Saraf stated in a report that the US dollar has short-term rebound potential as the Federal Reserve is unlikely to cut rates as aggressively as the market expects. He pointed out that although the market currently expects the Federal Reserve to cut rates consecutively in October and December, economic data supports a more "gradual rate cut" strategy, and it is expected that the Federal Reserve will cut rates again in December. In the long term, Danske Bank expects the EUR/USD exchange rate to rise to 1.23 over the next 12 months.