BENGALURU - The U.S. dollar, which has dominated currency markets since last year, will stay strong for another three to six months before starting to cede ground to most other major currencies, a Reuters poll found.
Its relative strength is forecast to last at least through October, according to more than three quarters of the strategists who answered an extra question. “We continue to expect the Fed to remain on hold this year and hence the monetary easing currently priced in to gradually unwind. That will provide support for the dollar initially, but later this year as global growth picks up, we expect the dollar to then gradually depreciate,” noted Lee Hardman, currency analyst at MUFJ.
Nearly three-quarters of strategists who answered a separate question said the risk to their dollar forecasts was skewed to the upside.
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