US Dollar can edge higher – BBH
Source Fxstreet
The US Dollar (USD) pared back some of its recent solid gains. Economists at BBH analyze Greenback’s outlook.
The US economic growth outlook is encouraging
USD can edge higher because we don’t expect the Fed will deliver 75 bps of rate cuts this year.
The US economic growth outlook is encouraging, financial market conditions are very loose, and the February PCE deflator is expected to remain too sticky for the Fed to cut any time soon.
Interestingly, Atlanta Fed President Raphael Bostic (2024 voter) pointed out on Friday he now projects just one interest rate cut ‘later in the year’, instead of two, as he’s less confident on the trajectory of US inflation.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, regains positive traction on Tuesday and climbs back above the mid-99.00s during the first half of the European session.
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