Analyst: The Federal Reserve (FED) hawkish dot plot may support the dollar's strength this week.

On June 18, Matthew Ryan, the market strategy director of financial services company Ebury, stated that two rate cuts by the Federal Reserve in 2025 will still be the baseline forecast for most policymakers, given the significant uncertainty surrounding tariffs, they may not have enough confidence to substantially change their views.

However, there is a risk that a few officials believe the rate cut this year will be lower than previously expected, which may be enough to reverse the situation, leaning towards only cutting rates by 25 basis points in 2025. The hawkish dot plot and Powell’s comments emphasizing the lack of urgency in lowering rates may provide some room for the dollar to strengthen later this week.