US dollar decline accelerates as Waller takes a dovish turn

<p>The latest comment from the Fed's Waller is:</p><ul><li>Good arguments that if inflation continues falling for several more months that you could lower policy rate</li></ul><p>Waller is generally a hawk so this is a real turn from him and the first hint from any Fed official that rate cuts are coming, or could come.</p><p>The market is already pricing in a 75% chance of a May rate cut but that certainly hasn't been endorsed by the Fed, until now. As a result, we're seeing material US dollar selling along with bids in bonds and buying in equities.</p>

This article was written by Adam Button at www.forexlive.com.