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
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.