The US dollar remains at high levels. Economists at Commerzbank expect the greenback to enjoy further gains ahead.

There is no avoiding the dollar

“The dollar is being supported by unshakable confidence in the Fed’s rate hike cycle and the surprisingly robust economic environment. Today’s data on personal spending and above all the labour market report next week are likely to confirm that.”

“If the economy were to cool and the labour market turn though, there would soon be criticism of the Fed’s tight monetary policy and the strong dollar. We have not reached that point yet.”

“In view of the enormous uncertainty about the exact effects of the energy crisis on Europe over the coming months, the lower end in EUR/USD seems much more attractive for now.”