Steven Englander, Managing Director and Global Head of G10 Forex Research & MD-N American Macro Strategy, Standard Chartered Bank,

expects one more rate cut of 25 basis point from the US Federal Reserve, followed by a long pause.

“We still think they’re going to cut 25 because we think that the numbers will support it, but we’re also not expecting to see much from the Fed next year,” he said.

Amid a technology-led sell-off on Wall Street, Englander said that concerns around artificial intelligence (AI) stock valuations have unsettled markets, but the underlying US economic picture may still support a stronger dollar.

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On the currency front, he described a “battle” for the dollar, with

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