“Our interpretation is that the cyclical tailwinds aren’t strong enough to overcome the more secular headwinds, i.e. still-high valuation as well as the greater difficulty of attracting unhedged capital inflows to cover the 4% of GDP current account deficit in a world where US economic performance looks less exceptional,” he writes.
Today the euro, pound and Swiss franc all rose to the best levels against the US dollar since 2021.
This article was written by Adam Button at www.forexlive.com. Read More Details
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