Tuesday , May 18 2021

Economy today: HSBC: the US dollar will continue strong

Mubasher: HSBC's "America First" base will bring more shock to other countries next year, increasing the value of the US currency, according to HSBC analyst.

"The market is always looking for a slowdown in the United States and that is not happening," said David Bloom to Bloomberg in Madrid on Friday. "There is no reason why investors should not buy the dollar at any time.

"The dollar and the yen will win even if the risk appetite falls and the Fed cuts interest rates," said Bloom.

Wall Street banks are divided around the trend of the dollar by 2019 after its sudden force this year that undermined investment strategies worldwide.

Earlier in the day, Morgan Stanley said the US dollar's earnings period ended after the peak, pointing out that the currency could fall together with falling stock prices.

Bloom continued that the dollar would remain bullish and could rise against the euro to $ 1.10 by the end of next year, up 3% from current levels.

At 3:15 p.m. GMT, the euro rose against the dollar at 0.6% to $ 1,1400.

The analyst said investors were preparing to take advantage of US assets based on a strong economic cycle that would increase interest rates, while demand for refuges could fuel the dollar if investors changed their volatile markets.

News Today's News: HSBC: the US dollar will continue to be strong: you can see the original source of news from the following link: Direct (Economy) and the unit's site renounces its full responsibility for the content of any news, but the responsibility rests in the original news editor.

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