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 will see a rise over the next few months. Turner expects that trade tariffs will stimulate consumer prices to accelerate starting in August, limiting the Fed's ability to cut rates.
He expects the euro to briefly retreat to a range of 1.13-1.15 against the dollar, and the yen to fall to 145-150 against the dollar. This implies that both the euro and yen will drop by about 4%. Turner believes the Federal Reserve may keep interest rates unchanged until December, at which point the dollar may see a slight adjustment.