Although the non-farm payroll data shows that the US labor market remains resilient, it has not prevented the dollar from facing downward pressure in the currency market. This reflects a phenomenon worth noting: market bearish sentiment has become deeply rooted, enough to counteract the traditional expectation that the strong US fundamentals would support the dollar.
Corpay strategist Carl Shamoto pointed out that this situation serves as a warning to investors betting on a strong US economy to lift the dollar. The obsession of bears with the dollar's prospects has become an unstoppable force,
View Original