Tactical USD upside for now – CIBC
|Economists at CIBC Capital Markets explain why near-term USD rallies should be faded over the long-term.
The degree of dissonance between the Fed and the market remains stark
Greater dissonance between the Federal Reserve and the market alongside liquidity risks portend near-term USD strength.
USD sellers should still look at rallies to get active over the medium-term.
DXY – Q3 2023: 103.23 | Q4 2023: 100.42
See: USD vulnerable on expectations that the Fed will not need to raise rates further this year – MUFG
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