The U.S. dollar sank to its lowest in more than three months on Tuesday as investors continued to take the view that growth in the world's largest economy is starting to slow down, with the market starting to price in a rate cut by the first half of the year. U.S. rate futures were pricing in a 33% chance of a rate cut in March, rising to a roughly 65% probability in May, according to the CME's FedWatch tool. Those odds were at 21% and roughly 50% late on Monday.
I guess the question is where it’s going to level off when the dust settles.