DOLLAR COULD DROP 10% IF FED CUTS MORE THAN EXPECTED State Street strategist Lee Ferridge warns the dollar may fall 10% in 2026 if the Fed cuts rates more aggressively than markets anticipate under a new chair. Traders expect two cuts by year-end, but a third is possible amid Trump’s pressure on the Fed. Deeper rate cuts could increase hedging by foreign investors, pushing the dollar lower. Ferridge sees a near-term 2–3% rebound on strong US data but expects selling to resume once rate cuts accelerate.(*Walter Bloomberg)