Dollar resurgence to be short-lived, euro still favoured - Reuters poll May 09 2018 [Reuters]
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Source: Reuters
Dollar resurgence to be short-lived, euro still favored: Reuters poll | Reuters 5 Min Read BENGALURU (Reuters) - The dollar’s newfound shine will fade as the U.S. economy’s strength and higher interest rates won’t support the currency’s resurgence for longer than another three months at most, a Reuters poll found. After falling over 2 percent in the first quarter, in April the dollar made its biggest monthly gain since November 2016 by recouping those losses and is now up close to one percent for the year against a basket of currencies. (For a graphic on world FX rates in 2018 - tmsnrt.rs/2egbfVh ) But medians in the latest poll of over 60 foreign exchange strategists taken May 3-9 forecast the greenback to be weaker in a year, leaving the euro EUR= up about 7 percent from where it is now. “Analyzing the three key drivers of this dollar move – and their temporary nature – means we do not see much further scope for dollar upside,” noted Viraj Patel, foreign exchange strategist at ING.
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