Samara Hammoud: US dollar index under pressure due to fiscal concerns

Commonwealth Bank forex strategist Samara Hammoud said that the US dollar index remained under pressure around 98.8 during the Asian trading session. The dominant fiscal position, the sustainability of US government debt, and the weakening of the US dollar have put pressure on the US dollar this week. US Treasury Secretary Bessent has raised market expectations for the release of the fiscal consolidation plan this week. The 2025 Department of Government Efficiency event indicates difficulties in reducing expenditures or increasing taxes; If the rectification measures are limited, the market may feel disappointed and the US dollar may weaken.