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BofA: USD Moves To Our Year-End Forecasts

FOREX

Bank of America write “the USD’s recent rally has brought it to levels at or near our year-end 2024 forecasts.”

  • “As the themes that have driven the USD higher continue to persist, we see near-term upside USD risks.”
  • “Median forecasts continue to reflect broader USD bearishness this year, amid mixed G10 positioning.”
  • “While our forecasts are more constructive on the USD for 2023, we see greater scope for depreciation starting in H2 2024 as the economy works through the global inflation/central bank cycle, allowing the longer-term valuation adjustment to play out.”
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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