Analysts: US Dollar to stay bright this year before fading in 2024 – Reuters poll
Early Thursday morning in Asia, Reuters released details of a survey conducted during September 1–6 with around 53 Forex strategists to confirm the US Dollar’s firmer dominance in 2023 before easing in the next year.
“The dollar's strength will be difficult to overcome for most major currencies by year-end,” said the poll while adding that the risks to the analysts’ greenback outlook were skewed to the upside.
The poll signals the Euro (EUR) to have gained 2.7% to $1.10 and 4.6% to $1.12 in six and 12 months, respectively whereas the Japanese Yen (JPY) is likely to pare back all of the current year's losses and change hands at 132/Dollar in the next 12 months.
It should be noted that the British Pound (GBP) is expected to gain another 3% to 1.29 per the US Dollar in a year but the Asia currencies are anticipated to seesaw during the next year, staying within a range or gaining a little versus the Greenback at best.
Also read: US Dollar Index: DXY flirts with yearly peak near 105.00 on hawkish Fed, US soft landing concerns
Author
Anil Panchal
FXStreet
Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.
