This year has been trying for dollar bulls betting on stellar greenback gains, but they’re not giving up yet.
Measured against a basket of currencies of the U.S’s main trading partners, the dollar hovered near a two-month high on Thursday, benefiting in part from weakness in the euro which has come under pressure from talk of a cut in euro zone interest rates in June.
“It’s been a very frustrating year for most FX investors, but particularly for dollar bulls like us at BNP Paribas,” Steven Saywell, global head of currency strategy at the French bank told CNBC.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at firstname.lastname@example.org. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.