According to Jin Ten Data, although concerns about a U.S. economic recession have eased slightly, the dollar still struggled to hold its ground on Monday. Investors are waiting for further clarity on U.S. trade policy.
The U.S. March employment report is strong, providing support for the dollar, reducing the possibility of a Fed rate cut in June, and making this week's policy meeting more likely to lean hawkish. Michael Feroli, JPMorgan's U.S. Economic Chief, stated that the employment report indicates the Fed will stand pat this week, with a higher threshold for a rate cut in June.
In times of high uncertainty, dual tasks face dual risks, and the Federal Reserve Committee is likely to remain patient until the outlook becomes clearer.