Reuters: Dollar may resume rally by year-end

21 November 2022 119
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Source: Reuters

Author: Jamie McGeever

Article: Original article

Publication date: Monday, November 21, 2022


Global equities have rebounded markedly, although bond yields and the dollar have declined. Besides, financial conditions have improved significantly over the past month as investors bet on a reversal of Federal Reserve monetary policy.


Major banks start publishing their forecasts for 2023. Currency analysts at HSBC and Morgan Stanley are among those who believe the dollar is already at the peak and may likely weaken next year.


However, the recent speech from Fed officials has been blatantly hawkish — even from former doves such as San Francisco Fed President Mary Daly. So, it won't be a surprise if the dollar resumes its rally later this year.


Forecast:

The dollar’s strengthening against the euro by the year-end

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