The U.S. dollar will slip over the coming year, according to a Reuters poll of s...
BENGALURU - The U.S. dollar will slip over the coming year, according to a Reuters poll of strategists who also said a positive outcome to U.S.-China trade negotiations was already priced in to their outlook and will not likely give the greenback a lift.
Now a slowing U.S. economy, a widening fiscal deficit and a dovish Federal Reserve are limiting the dollar’s strength against other major currencies compared with 2018. With all those factors in play, the dollar is now forecast to give back some gains over the coming year. The dollar was still highly in favor among speculators, according to the latest data from the Commodity Future Trading Commission, showing traders have taken their largest position favoring the greenback since mid-January.
But that outlook for 12 months ahead was a downgrade for the single currency against the dollar compared with last month. “We are not anticipating there will be lot of wind in the sails,” said Jane Foley, head of FX strategy at Rabobank, the top FX forecaster for 2018.
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