According to Odaily, analysts at NatWest Markets have indicated in a recent report that the growing confidence in the prospect of Federal Reserve rate cuts and the expectation of a soft landing for the U.S. economy are creating increasing resistance to the dollar's rise. They noted that unless U.S. data surprises and the anticipated rate cuts by the Federal Reserve are delayed, this situation appears to be more enduring. NatWest Markets forecasts that the Federal Reserve will cut rates by 150 basis points this year, which is nearly 50 basis points higher than what the currency markets have priced in. The analysts stated, 'It is still a question of how much the rate cuts will be next month rather than whether there will be cuts.'