According to a report by Jinshi Data, Chris Turner, a strategist at ING, stated that after tariffs drive up inflation and force the Federal Reserve to delay interest rate cuts, the dollar is expected to rise for several months. Turner anticipates that trade tariffs will stimulate consumer prices to accelerate starting in August, restricting the Fed from lowering interest rates.
He expects the euro to briefly retreat against the dollar to the range of 1.13-1.15, while the yen will drop to 145-150 against the dollar. This means both the euro and yen will decline by about 4%. Turner believes that the Federal Reserve may maintain interest rates until December, at which point the dollar may see a slight adjustment.