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6 June | Dollar

BofA maintains bearish stance on US dollar

GBPUSD
AUDUSD
EURUSD
USDJPY
USDCAD
BofA maintains bearish stance on US dollar

On Thursday, BofA Global Research reiterated its bearish outlook on the US dollar. However, the bank's analysts acknowledged that this view is becoming increasingly widespread, which creates certain risks.

Despite expecting medium- and long-term weakness in the dollar, the organization highlighted several factors that could support the US currency in the short term. These include the stability of the American economy, easing trade tensions, and congressional decisions on the budget.

Nevertheless, according to BofA, the long-term consequences of escalating global tariff disputes are likely to put pressure on the dollar. Thus, short-term gains will be temporary.

BofA analysts view any dollar rallies in the near term as an opportunity to sell, unless there are significant political and economic changes.

Elena Berseneva MarketCheese

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