The US Dollar Index is trading close to 104. What are the chances of a broader turn lower in the USD from here? Shaun Osborne, Chief FX Strategist at
Macro and policy factors have edged back in the USD’s favour. But some of that is already priced in and longer-run price trends remain generally USD-bearish after the DXY peak and reversal in 2022.
DXY gains could perhaps extend a bit more towards 106 from current levels but the USD is already looking ‘rich’ against some currencies and gains would be a stretch in valuation terms without some significant changes in the underlying economic outlook.Information on these pages contains forward-looking statements that involve risks and uncertainties.
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