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2025-10-30 08:48:45
Standard Chartered: Significant Upside Potential for the Dollar and Treasury Yields. Standard Chartered believes that given the deep divisions within the Federal Open Market Committee (FOMC), speeches by Fed officials could have a significant impact on currencies in the next two weeks. Steven Englander, Global Head of G-10 FX Research, wrote in a report that Fed Chairman Powell has deviated from his usual "we rely on data, we don't make commitments" stance, explicitly stating that there is no guarantee of another rate cut in December. "Overall, market expectations for rate cuts haven't even been halved, so if the Fed's divisions are as significant as Powell has suggested, we believe there is significant upside potential for yields and the dollar." "The uncertainty surrounding future rate cuts aligns with our previous contrarian view that the FOMC would not cut rates in 2026."
