JPM see the Federal Reserve cutting rates in sept September and December

(link here, Barclays and Stan Chart also see Fed rate cuts coming)

  • JPMorgan citing harmful impacts on business confidence caused by US trade war induced trade uncertainty

Lower rates, so short the buck? No, says JPM:

The corollary in the FX-space to a more challenged global growth environment should be a broadly stronger USD

  • conclusion would not be fundamentally altered if the Fed did decide to take out insurance and cut rates since it would be doing so in a weakening, i.e. USD supportive, global environment.

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(So glad I didn't post that particular view yesterday …. ;-) )