A WEAKER DOLLAR IS LIKELY BUT A CORRECTION STRONGER FIRST IS PROBABLE

14 Feb 2024, 20:01 · Views 132

The US Dollar has started the year by rebounding after the sharp sell-off in November and December. Economists at MUFG Bank analyze Greenback’s outlook.

Fed’s easing cycle will be more pronounced in H2

We are maintaining our US Dollar forecasts and see the broader global conditions as not yet conducive to Dollar selling.

The Fed caution communicated at the January meeting underlines our view that the Fed’s easing cycle will be more pronounced in H2 and by then the global backdrop will improve modestly with a pick-up in growth in Europe and China helping to push the Dollar weaker but within narrow ranges.

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A WEAKER DOLLAR IS LIKELY BUT A CORRECTION STRONGER FIRST IS PROBABLE – MUFG

Fed’s easing cycle will be more pronounced in H2