After Federal Reserve Chairman Powell maintained a cautious stance on interest rate cuts, the dollar rose slightly. During his testimony in Congress on Tuesday, Powell seemed to pour cold water on the prospects of a rate cut in July, rejecting President Trump's call for lower rates. Pepperstone strategist Michael Brown stated in a report that the Federal Reserve may have to wait until December to cut rates, with only a 25 basis point cut expected this year.
Institutions: The Federal Reserve may not cut interest rates until December.
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