US Dollar to peak and then weaken in 2023 – Citi
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Economists at Citi look for an end to the US Dollar’s mighty ascent.
“We expect the US Dollar rally since 2021 to exhaust itself sometime in 2023 and then to reverse course. This is partly because the Fed is likely to stop raising interest rates more aggressively than other G10 central banks as economic growth slows.”
“Positioning for dollar strength has become a crowded trade as investors seek out “safe haven” assets amid uncertainty. The US has large trade and fiscal deficits that should prompt softening over time.”
“We expect the Canadian Dollar to strengthen once broader US Dollar strength wanes.”
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