US Dollar to weaken further in 2023 – HSBC DollarIndex Fed InterestRate Banks
The Federal Open Market Committee voted unanimously to hike by another 50 bps. Economists at HSBC still expect a final 50 bps rate hike by the Fed in early 2023 but do not expect rate cuts until 2024. They look for USD weakness during 2023.is in the late stages of the tightening cycle are part of why we expect further USD downside in 2023.”
“We still think that the FOMC will raise its policy rate by a final 50 bps in February 2023, while admitting upside risks. The FOMC is expected to deliver 50 bps of rate cuts in 2024 , bringing the federal funds target range back down to 4.25-4.50% by the end of 2024.” If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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