US Dollar Expected to Continue Trading Strong for the Next Six Months: Reuters
According to a recent Reuters poll, the US dollar is expected to rally and continue trading bullish for at least another six months. Escalating trade tensions have weakened the economic growth prospects of leading countries around the world, keeping the dollar’s major peers under pressure.
Despite the US economy showing signs of weakness lately as the trade war with China prolongs, it is still faring better than other developed economies, especially in the Eurozone. A weaker than expected growth in the manufacturing and services sectors in the US during September have reignited market expectations for one more rate cut this year by the Federal Reserve.
However, analysts polled expect the dollar to weaken only if more economic data releases point to an increased risk of recession in the US economy in the coming months. Any further escalation in the US-China trade war and positive returns on dollar-denominated assets are expected to keep the dollar in favor among traders worldwide in the near future.
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