Rate Cut Expectations Increase as Dollar Slumps on Multiple Bearish News

BlockBeats News, December 4th - The US dollar remained soft on the previous trading day after hitting a five-week low, as US data and news about the next Federal Reserve chair boosted rate cut expectations ahead of next week's rate decision.

On Wednesday, the ADP private sector employment report came in weaker than expected, while ISM non-manufacturing data showed some easing of price pressures. These data were released after Trump hinted at nominating Hassett as the next Federal Reserve chair.

LSEG data shows that the market has priced in an 85% probability of a Fed rate cut in December. (Xinhua)