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HSBC write that "the USD's story may not.....>

DOLLAR
DOLLAR: HSBC write that "the USD's story may not look as positive as it did in
2018, but there are four key factors that we believe will continue to support
the USD in 2019. In the relative world of FX, USD should capitalise on the
slowing global economy as other currencies look more vulnerable with their
respective central banks facing an inability to loosen policy if needed. The
underlying level of rates remains USD supportive too, as the USD remains the
high-yield play in G10. The balance of risks around consensus rate hike
forecasts still points to USD upside, and positioning is not skewed against the
greenback, in our view. Therefore, while the USD may not be perfect, we think it
is the best of a bad bunch in G10."
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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