USD Index to end the year lower at 98 – ANZ
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Year-to-date, the US Dollar has been whipsawing from positive to negative on the back of multi-sigma moves in the rates markets. Economists at ANZ Bank expect the US Dollar Index (DXY) to plummet toward 98 by the end of the year.
“We expect a slowdown in US growth on the back of recent events which reinforce our view of a weaker Dollar this year.”
“A steeper yield curve tends to correlate with a weaker Dollar, especially as interest rate cuts are now being priced in.”
“Our year-end forecast for the US Dollar Index is 98.”
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