The US Dollar has rallied about 2% since the last FOMC meeting in September. Economists at ING are deferring their call for a Dollar sell-off this year.
Strong Dollar remains the only game in town
Even though November and December are seasonally weak months for the Dollar, it is hard to call a turn in the USD trend before year-end.
US data is showing no signs of turning just yet. For that reason, it seems hard for the market to completely price out the risk of one last Fed hike before year-end. This should keep short-dated US yields anchored above 5% and prevent the Dollar from falling too far during any corrections.
Looking into 2024, our call for US economic and rate convergence with stagnant growth elsewhere in the world should mean the Dollar turns lower
면책 조항: 본 게시글에 표현된 견해는 전적으로 작성자의 견해이며 Followme의 공식 입장을 대변하지 않습니다. Followme는 제공된 정보의 정확성, 완전성 또는 신뢰성에 대해 책임을 지지 않으며, 서면으로 명시적으로 언급되지 않는 한 해당 내용을 기반으로 취해진 어떠한 조치에 대해서도 책임을 지지 않습니다.
더 오래된 의견은 없습니다. 소파를 가장 먼저 잡으십시오.