July 07, 2022 - 12:09 PM 233 views
In light of aggressive Fed rate hike forecasts and demand for safe-haven assets, the US dollar is projected to maintain its bullish momentum for at least the next three months, according to the most recent Reuters poll of foreign exchange analysts.
In a different question from the July 1-6 Reuters FX poll, 37 of 48 analysts responded in favour of the trend continuing for at least another three months.
Of those, four stated at least a year, four said at least two years, 19 said three to six months, 10 said six to twelve months. Less than three months was only selected by 11 respondents.
The median prediction from the most recent poll of close to 70 analysts stubbornly holds to the long-held belief that the dollar will decline over the next 12 months.
By mid-2023, the euro is expected to increase by around 8.0 percent, reaching about $1.10.
Given that the Bank of England appears poised to keep rising interest rates, sterling is anticipated to make up roughly half of its lost ground over the course of the ensuing year.
The Russian rouble and the Turkish lira were forecast to depreciate over the next three to six months, while the tightly controlled Chinese yuan, the Indian rupee, and the Malaysian ringgit were predicted to trade roughly where they are currently.
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