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The U.S. dollar slipped under rising bets that the Federal Reserve will finally start trimming interest rates—possibly as early as September—putting pressure on the greenback. At the same time, investors piled into riskier assets, pushing bitcoin to new record highs, while global stocks paused after a strong rally. Analysts are quick to caution that upcoming economic data could quickly reshape this outlook.
$Dollar Under Pressure, Rate-Cut Odds SurgeMarkets are nearly pricing in a cut at the Fed’s September 17 meeting, and even giving a 7% chance to an outsized half-point move—up from zero just a week ago. U.S. Treasury Secretary Scott Bessent added fuel to the fire, publicly urging aggressive Fed action and signaling a dovish shift.
Across forex markets, the dollar weakened to multi-week lows. The euro edged up toward $1.17, sterling climbed, and the dollar slid significantly against the yen.
Bitcoin Breaks Records, Bullish Momentum Builds
Bitcoin cleared $124,000 for the first time—a fresh all-time high backed by institutional demand and policy tailwinds.
Several catalysts are at work:
A newly approved U.S. policy lets 401(k) retirement plans invest in crypto—unlocking potential trillions in long-term demand.
Sustainable ETF inflows and continued institutional buy-ins are boosting momentum.
Softer-than-expected U.S. inflation (July CPI at 2.7%) strengthens the case for easier Fed policy.
Technical traders are eyeing upside targets ranging from $125,000 to $150,000 if these tailwinds remain intact.
Stocks Hit Pause After Another Rally
Global equities rallied strongly in recent days—Asia’s MSCI index (excluding Japan) hovered near its highest level since September 2021, while the MSCI All Country World Index hit a record two days running.
But the energy didn’t carry through today. Equities in Asia and futures in Europe and the U.S. treaded water as markets reassessed whether recent gains were fully justified.
Analysts Urge Caution on Upcoming Data
Despite the bullish tone, experts warn that upcoming U.S. inflation and payroll figures could recalibrate expectations—and disrupt the current setup.
Gold and other havens are quietly benefiting too, as a weaker dollar and easing rate outlook drive wider moves across asset classes
