Dollar's Trump-Fueled Gains Face a Reality Check Late Next Year [Yahoo! Finance Canada]
SOCIETE GENL FRNCE S/ADR (SCGLY)
NASDAQ:AMEX Investor Relations:
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Source: Yahoo! Finance Canada
Most Read from Bloomberg From Morgan Stanley to JPMorgan Chase, roughly a half dozen sell-side strategists, are now forecasting the world's reserve currency will peak as early as mid next year before starting to decline, with Societe Generale seeing the ICE US Dollar Index falling 6% at the end of next year. The dollar has already soared this year, on track for the biggest rally since 2015, thanks to Trump's victory in the US presidential election and as strong economic data prompted traders to reduce their forecasts for the number of Fed rate cuts next year. The greenback's strength has been “stomach churning,” said Kit Juckes, the head of currency strategy at Societe Generale. “We're driving the price of an asset up to something that is not sustainable over the long-term.” The Bloomberg Dollar Spot Index has risen some 6.3% so far this year, with a good part of those gains coming in the run-up to and since election day in early November. The rally has been fueled by expecta
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