The U.S. dollar is likely to rebound this week on expectations that the Federal Reserve will approve a “gradual” withdrawal of bond purchases at a monthly rate of $10 billion, CNBC’s latest poll of currency traders, analysts and strategists showed.
Two-thirds of CNBC poll respondents (14 out of 21) said they believed the U.S. dollar would recover after falling to a seven-week low against the Japanese yen on Friday.
“FOMC (Federal Open Market Committee) officials have given no signal the Fed will delay tapering this month,” said Mansoor Mohi-uddin, head of foreign exchange strategy at UBS.
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Mingze Wu
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