US Dollar Bearishness Is Overdone

US Dollar

The U.S. dollar has taken a beating in 2017, having fallen around 9%, but some currency strategists say the bearishness towards the greenback is overdone.
The political uncertainty surrounding the Trump administration is viewed by ANZ as having pushed the U.S. dollar down “much further than warranted based on fundamentals”, with leveraged funds now holding net short positions in the greenback for the first time since May 2016. The weakness in the world’s reserve currency comes despite the Federal Reserve hiking rates in June, the possibility of further increases, and the shrinking of the Fed’s balance sheet “relatively soon”.
ANZ’s head of Asian research Khoon Goh reckons “sentiment looks to have turned too bearish, in our view”.

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Arnaldo Rodgers Posted by on 9:28 am, With 0 Reads, Filed under Economy. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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