Bank of America: Against the backdrop of the Federal Reserve's resistance to interest rate cuts, the US dollar is expected to usher in a summer offensive

According to a report by Golden Finance, Bank of America stated that if the Federal Reserve continues to hold its ground and institutional investors slow down the pace of selling US dollars, the US dollar may experience a summer market trend. We are bearish on the US dollar in the medium term, but the risk of the summer market is already on the rise, "foreign exchange strategists led by Adarsh Sinha wrote in a research report. The Bloomberg US Dollar Spot Exchange Rate Index has risen 1.6% so far this month, rebounding from six consecutive months of selling. The technical and quantitative indicators of the bank indicate that there is a risk of reversal in the US dollar sell-off, and strategists also believe that stubborn inflation and resilient growth will prevent the Federal Reserve from cutting interest rates for the time being.