GBBEF - Waller May Be Alone In Advocating July Rate Cut, But It Weighs On The Greenback
2025-07-18 07:40:00 ET
Overview
The US dollar is trading softer against most G10 and emerging market currencies today. The dollar seemed to lose its bid late yesterday after Federal Reserve Governor Waller argued in favor of a rate cut at this month's meeting, despite the TIC data that showed foreign investors bought more US securities in May than they did in the first five months of 2024 ($311 bln vs $95 bln), driving home the message again that the talk of a capital strike against the US over its large deficit/debt or loss of "American exceptionalism" has been grossly exaggerated. The US announced a 93.5% tariff on graphite from China (given the other tariffs the effective rates is near 160%), which may have the effect of making more it more expensive to develop an EV battery industry in the US....
Waller May Be Alone In Advocating July Rate Cut, But It Weighs On The Greenback