The main tailwind for USD is fading fast – HSBC DollarIndex Banks Currencies EURUSD GBPUSD
“USD benefited from the leadership of thein setting the pace of monetary policy tightening and an attractive rate pickup compared to many other G10 currencies. But as we get closer to peak rate levels, we think those rate differentials are unlikely to widen further, and the gap may even narrow with some countries. As a result, the main tailwind for USD is fading fast.”
“USD will still get some support, however, from weakening global economic growth, relative economic resilience in the US and mixed-to-weak“We recently downgraded USD to neutral; upgraded EUR and GBP to a neutral view; and JPY and SGD to a bullish view.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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