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Dollar to stay firm on resilient US economy
Greenback expected to rebound in the near term, GDP growth better than that in Europe and Asia
The US dollar will hold its ground against most major currencies for the rest of the year despite expectations of narrowing interest rate differentials as the US economy stays resilient, according to FX strategists polled by Reuters.
Although the greenback is still down around 0.5% against major currencies this year, it has gained nearly 1.3% over just the past week thanks to receding calls for a rate cut and wilting expectations for a US recession this year.
Greenback expected to rebound in the near term, GDP growth better than that in Europe and Asia
The US dollar will hold its ground against most major currencies for the rest of the year despite expectations of narrowing interest rate differentials as the US economy stays resilient, according to FX strategists polled by Reuters.
Although the greenback is still down around 0.5% against major currencies this year, it has gained nearly 1.3% over just the past week thanks to receding calls for a rate cut and wilting expectations for a US recession this year.
