• US Dollar set to remain well-supported – MUFG

Market news

21 August 2023

US Dollar set to remain well-supported – MUFG

Economists at MUFG Bank expect to see more USD strength.

Global backdrop is set to remain Dollar supportive

The risk will come at the end of the week with Fed Chair Powell speaking at Jackson Hole. However, we see limited scope for the Fed to make a dovish pivot given the limited changes in the flow of data since the July FOMC meeting. 

We still expect to see a slowdown emerge but until we see some evidence of that emerging, the Dollar is set to remain well-supported. 

China's growth concerns and property market risks, which are unlikely to recede, mean the global backdrop is set to remain Dollar supportive as well. 

 

Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Open Demo Account & Personal Page
I understand and accept the Privacy Policy and agree to my name and contact details being used by TeleTrade to contact me about this.