- Analytics
- News and Tools
- Market News
- USD Index to sink to 103 by end-2023 amid greater certainty and longevity of Dollar downtrend – Westpac
USD Index to sink to 103 by end-2023 amid greater certainty and longevity of Dollar downtrend – Westpac
Having reached a new cycle (and multi-decade) high of 114.1 in late September, the US Dollar Index (DXY) has since been locked in a relatively tight trading range between 110 and 113. Economists at Westpac expect that the US Dollar peak is behind us.
The weight of reality is hitting the USD
“Expectations and risks related to inflation continue to dictate moves within the range; although, over the past month, participants have been showing greater concern over the consequences of tight policy for the economy, and consequently a growing belief that the peak in rates is nigh. Available activity data certainly argues for this being the case.”
“Although the direction of travel for the US economy, and by association consumer inflation, is clear, markets are still apprehensive to step out and take risk, particularly while the FOMC holds onto its hawkish stance, evinced again by Chair Powell this week. Into year-end, we expect this to remain the case. 2023 is likely to be very different, however.”
“From 113, we look for DXY to fall to 103 by end-2023 and 96 end-2024 – declines of 9% and 15% from spot – with Euro and Sterling key to the result.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
