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United States Dollar to retain support into year-end before weakening later – National Bank
Persistent US inflation and expectations of additional Federal Reserve tightening continue to support the Dollar, according to National Bank strategists Stéfane Marion and Kyle Dahms. Weaker global risk appetite is also driving safe-haven demand, they note, although midterm elections present a medium-term headwind. Their outlook is for the Dollar to retain support through year-end, then weaken gradually in 2025 as support from relative interest rates reaches its peak.
Dollar outlook reflects Fed tightening and political headwinds
"The U.S. dollar remains supported by persistent inflation and the prospect of further Fed tightening."
"Following October’s pause, another firm CPI report reinforces our expectation for tighter policy before year-end, while a deterioration in global risk appetite could provide further support through safe-haven demand."
"We expect the dollar to remain supported through year-end before weakening gradually in ൭൫൭൲ as relative-rate support peaks."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
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