Internet reports that Mitsubishi UFJ analyst Derek Halpenny said in a report that Federal Reserve Chairman Powell may signal future interest rate cuts at Wednesday's meeting, but any decline in the dollar may be limited in the context of the conflict between Israel and Iran. He said the overall tone of Powell's speech could be interpreted as a "dovish", implying interest rate cuts, given the weaker than expected job market and inflation data. This could lead to a slight increase in expectations for interest rate cuts after September. However, until the prospects for a conflict between Israel and Iran become clearer, the willingness to sell dollars may temporarily weaken.