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Bank of America Still See USD Downside In 2024

FOREX

Bank of America note that “markets have been eventful since we published our year-aheads, including a noisy US payroll report to kick off the year data-wise. Still, our core fundamental FX outlook remains the same, as we continue to expect a modestly weaker USD. As the outlook remains disinflationary with central banks such as the Federal Reserve cutting rates this year, we hold our view that EUR/USD will be at $1.15 at the end of the year. And despite near-term volatility, we generally look for USD to fall over the longer-term as well.”

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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