Scotiabank: Market Favors US Dollar Rebound, Significant Momentum Needed for Downturn

According to ChainCatcher, citing a report from Golden Ten Data, Eric Theoret, a foreign exchange strategist at Scotiabank, pointed out that Powell's remarks did not reach the level of dovishness the market had originally expected. He stated that Thursday's optimistic economic data, combined with the heavy selling pressure the US dollar faced earlier in the week, was enough to drive a rebound in the dollar. Theoret believes that the market was already completely tilted to one side, so it would require significant momentum for the dollar to fall further from its current level.