US Dollar to gather safe-haven strength in 2023 – Reuters poll
|According to the latest Reuters poll of market strategists, the US Dollar is set to make a solid comeback against most currencies next year amid growing fears of a US recession, which will revive its safe-haven appeal.
Key takeaways
“The greenback will trade around current levels a year from now and hold on to its near-10% gains so far this year, despite its recent setback.”
“Nearly two-thirds or 33 of 51 strategists who answered an additional question said the greater dollar risk over the coming month was that it would rebound rather than falling further.”
“An overwhelming 80% majority, or 42 of 51 respondents, said there was not much scope for dollar upside based on monetary policy.”
“The euro was expected to lose around 3% by end-February to trade at $1.02. It was expected to climb higher to trade around $1.07 in a year.”
“The Japanese yen expected to change hands around 139.17, 136.17 and 132.67 per dollar over the next three, six and 12 months respectively.”
“Sterling was forecast to lose nearly 5% to trade around 1.16/$ in three months.”
“The Chinese yuan was expected to remain above the 7.0 level per dollar over the coming six months.”
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