Bank of America foreign exchange strategists Athanasios Vamvakidis and Claudio Piron said that due to unsatisfactory job market and inflation data, the US dollar index has fallen 1.62% so far in May, and the US dollar has become the weakest G10 currency. The market has moved from expecting the Fed to cut interest rates once in December to expectations of cutting interest rates twice starting in September. EUR/USD is in the middle of the Bank of America's forecasts for the second and third quarters of 1.07 and 1.10, while USD/JPY also declined after the US data was released, which indicates that the Federal Reserve's pricing is more important than foreign exchange intervention. The Bank of America anticipates that once the Federal Reserve starts cutting interest rates, the US dollar will weaken across the board.
美银：一旦美联储开始降息，美元将全面走弱
Bank of America: Once the Federal Reserve starts cutting interest rates, the dollar will weaken across the board
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