What Could Turn The Dollar Down?

Global Fixed Income & Currency Strategy

November 18, 2021

The U.S. dollar may experience a technical retracement or consolidation, but a sustained downside reversal will require a dovish pivot by the Fed and stronger Chinese growth. These conditions are not in place right now and it is too soon to bet against the greenback.

USD/CAD can diverge from the general trend of a stronger greenback. The BoC is more hawkish than the Fed, energy prices are well supported, and the Canadian dollar is cheap.


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