Watch: Turmoil, rate cuts and the dollar’s expected decline

There's a feeling in the markets that the US Fed left it too late to cut interest rates, which stoked recession fears. But ING's Global Head of FX Research, Chris Turner, says the FX market was likely the source of the volatility, notably the unwinding of dollar/yen positions. Now that some calm has been restored, Chris looks at how expected US rate cuts in September will affect the FX market over the coming months