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- Further US dollar strength in the near-term – MUFG
Further US dollar strength in the near-term – MUFG
Hawkish Federal Reserve has driven the US dollar higher. Economists at MUFG Bank expect the greenback to remain strong in the near-term.
Fed to deliver a third consecutive 75 bps hike this month
“Market participants are becoming more confident that the Fed will deliver a third consecutive 75 bps hike this month (69 bps is currently priced in), and for the policy rate to reach a peak of close to 4.00% next year.”
“The labour market will have to show more acute weakness to materially alter the Fed’s plans for further tightening, and heighten US recession fears. In these circumstances, we continue to expect further US dollar strength in the near-term.”
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