USD Index: Short-term, corrective gains will give way to more, fundamentally driven losses – Scotiabank
|The USD is trading broadly higher. However, economists at Scotiabank expect the greenback to turn back lower.
Markets start to think about rate cuts in the US
“Broader USD gains may extend somewhat to correct some its steady losses over the past week but there is little getting round its loss of appeal as the Fed rate cycle peak nears – and markets start to think about rate cuts in the US.”
“Short-term, corrective USD gains driven by risk aversion will give way to more, fundamentally driven losses.”
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.