Dollar’s softish momentum may not have long legs – ING DollarIndex Fed Inflation Banks
at ING, the dollar correction may not have long legs after the re-pricing of terminal rate expectations.“Markets are now probably embedding a rather fast descent in US inflation. Supply-chain bottlenecks still suggest that descent will likely be long and slow, and ultimately should continue to advocate in favour of the Fed bringing rates to the 3.00% mark. In other words, we expect markets to gradually price back in the hawkish bets it pared in the past few days.
“The dollar’s softish momentum may not have long legs, and the prospect of 50bp increases in May and June should also contribute to keeping the greenback in demand in the coming weeks.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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