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A hunt for yield in emerging market currencies could keep the US dollar on the offer longer than previously expected, according to a majority of 70 foreign exchange strategists polled by Reuters between Jan. 4-7.
Key points (Source: Reuters)
35 of 63 analysts – or around 55% – predicted the dollar’s weakening trend would last more than a year, while others expected it to run out of steam before the end of 2021.
A clear majority, or 47 of 57, analysts said that emerging market currencies would perform better against the dollar this year.
Major currencies are predicted to post marginal gains against the greenback over the next 12 months.
The euro is forecast to gain around 1.9% to $1.25 by the end of this year.
This article was originally published by Fxstreet.com. Read the original article here.