Institutions: Strong Non-Farm Payrolls Fail to Halt Dollar's Decline, Bearish Sentiment Has Become "Deeply Rooted"

Odaily Planet Daily reports that despite signs of resilience in the U.S. labor market suggesting the Federal Reserve may keep interest rates steady for the long term, the dollar remains weak. Corpay strategist Carl Shamota stated, “This indicates that bearish sentiment is deeply rooted and serves as a warning to those of us who expect the strong fundamentals of the U.S. to provide support. By historical standards, the dollar’s decline so far has been moderate, and if market sentiment does not change, there is still room for further downside.” (Jin10)