According to Jinshi, analyst Srinivasan Sivabalan said that a few weeks ago, the currency market predicted that the Federal Reserve would cut interest rates three times this year, but now these bets have been reduced. When the market opens on Monday, these expectations may be further hit, as people are mainly worried about the surge in oil prices that will increase inflation. If recent days are any indication, risk aversion may boost the dollar and put pressure on the Israeli shekel and emerging market currencies. Investors may further flock to U.S. Treasuries for safety.
