USD bearish bias for now, but caution after 5% drop in one week – MUFG DollarIndex Fed Inflation Bonds Banks
Does peak inflation mean peak Dollar? Developments last week have led analysts at MUFG Bank to turn USD bearish over the short-term at least.“After a significant CPI downside surprise, we have seen a big drop in US yields and thewhich leads to the justifiable question – have we just seen the three peaks for inflation, rates and the US Dollar. Of the three, it is the USD that would have to do the most work to get to new highs – about a 7% gain would be needed.
“While it makes sense to hold a bearish view now on the USD with the potential for some further signs of easing inflation, the DXY index is now over 5% down since last Friday and hence selling on rallies might make more sense from here.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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