The Fed is easing albeit less than what was expected eve three months again and the rest of the world seems to be willing to ease more than the US. The result has been a stronger dollar that is on the high end of the range for the last two years since the easing cycle began. This does not seem surprising. The US economy is stronger than expected, inflation has come down, and longer-term interest rates are more attractive to foreign investors. There is little reason for a dollar reversal even without accounting for tariffs and a new administration.
The dollar trend is consistent with macro trends with provides more confidence in this price move.
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