2026 Fed rate cuts — everyone's talking about the dollar tanking. But is it really that simple?

Jane Foley from Rabobank isn't buying the hype. Her take? Most of that bearish sentiment is already baked into current prices. The greenback's slide, if it happens, probably won't be dramatic.

Think about it: markets rarely move exactly how everyone expects. When a narrative becomes consensus, the surprise often comes from the other direction. The dollar might weaken, sure, but expecting a freefall? That's where things get interesting.

Rate cuts don't exist in a vacuum. Global capital flows, geopolitical tensions, other central banks' moves — all these factors matter. A modest decline seems more realistic than a collapse.

What's your read on this? Overpriced pessimism or genuine headwinds ahead?