Strong non-farm payrolls fail to stop the weakening of the US dollar, as bearish sentiment remains deeply entrenched

ChainCatcher News, according to Golden Ten Data, despite signs of resilience in the US labor market suggesting that the Federal Reserve may remain on hold for an extended period, the US dollar continues to weaken. Corpay strategist Karl Schamotta stated that this indicates bearish sentiment has become deeply entrenched, serving as a warning to those, including themselves, who expect strong US fundamentals to provide support. By historical standards, the dollar's decline so far remains moderate, and if market sentiment does not change, there is still room for further downside.