In a research note, the bank identified Norway, Switzerland, Canada, Sweden, the UK, Australia, and Israel as having the largest US equity holdings relative to their own GDP. “Capital repatriation could be most consequential for their currencies,” the team said, flagging these economies as potentially more sensitive to shifts in global asset allocations.
An equal-weighted real exchange rate index of the dollar against other G10 currencies suggests the USD remains elevated on a historical basis. “In the medium to long run, currencies have generally mean-reverted in real terms,” JP Morgan noted, though it cautioned that such adjustments typically unfold over several years or even a decade.
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I didn't draw in anything, but a quick eyeball suggests to me the drop has work to do around here.
This article was written by Eamonn Sheridan at www.forexlive.com. Read More Details
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