Analyst: Powell's dovish stance will suppress the dollar, with rate cut probability close to 90%

According to Jinshi reports, the dollar remained steady ahead of the Federal Reserve's policy statement and Chairman Powell's speech. The market expects a nearly 90% probability of a 25 basis point rate cut by the Federal Reserve on Wednesday, and anticipates two more rate cuts next year. Tickmill's Joseph Dahrieh stated that if Powell signals any inclination towards a more dovish policy path, it could put downward pressure on the dollar and long-term yields.