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2021/05/06

US Dollar Anticipated to Change Vulnerable for the Following Three Months: Reuters Poll

Weak Greenback For The Next Three Months: Reuters Poll.

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Foreign exchange strategists recently polled by Reuters expect the US dollar to continue trading weak over the course of subsequent three months amid a search for yield among investors. 

Over 70% of analysts who participated in the poll expect the dollar to stay weaker against its major rivals for over three months, including around 40% who expect it to stay weak for quite six months going forward.

Through Q1 2021, the US dollar index had strengthened by almost 4% only to lose over 2% of its value during the month of April. 

Expectations for the US economy to post a faster than forecast recovery and an opportunity of a spike in inflation driving up US Treasury yields had strengthened the Bull Run within the greenback over the primary three months of the year. However, repeated assurances by Fed officials over any rise in inflation being temporarily eased market concerns, weakening bond yields and therefore the reserve currency successively.

Earlier in the week, the greenback posted a robust performance after US Treasury Secretary Janet Yellen hinted at the likelihood of a before an expected rate hike just in case inflation heats up amid rapid economic recovery. However, analysts anticipate the bullish moves to last for a really short period of your time, and for the reserve currency to return struggling against its leading rivals soon.

The dollar is additionally likely to return struggling within the medium term because the global economic outlook improves, which successively would boost the danger sentiment in financial markets and drive investors far away from the security of the greenback and towards riskier instruments. 

This might see riskier assets, especially commodity currencies and emerging market currencies making gains against the US currency within the coming months also.

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