Dollar to stay bright this year before fading in 2024, analysts say: Reuters poll

By: Admin

BENGALURU, Sept 7 (Reuters) - The dollar's strength will be difficult to overcome for most major currencies by year-end, according to a Reuters poll of forex strategists who said the risks to their greenback outlook were skewed to the upside.

Backed by a strong economy and rising U.S. Treasury yields, some of the highest among developed economies, the dollar despite bouts of weakness has stayed resilient against most major currencies.

Hitting a six-month peak as jitters over China and global growth weighed on risk appetite and expectations the U.S. Federal Reserve will hold interest rates higher for longer, the safe-haven dollar recovered almost all of its mid-year losses and is now up over 1% for the year.

That strong performance has brought the long-held view of a weaker dollar in the short to medium term under review.

A solid 81% majority of analysts, 43 of 53, who answered an additional question said the risk to their dollar outlook was to the upside, the Sept. 1-6 Reuters poll showed.