The dollar will remain weak, with some consolidation possible
2025-07-01 06:30:57
Lombard Odier strategists continue to expect the dollar to weaken over the next 12 months. They said in a research note that some consolidation is likely, but a larger recovery appears less likely. Investors are moving modestly away from U.S. assets towards Europe and Japan, which poses downside risks to the dollar, although the recent underperformance appears to have continued. They said that slowing U.S. economic growth and the possibility of unexpected growth elsewhere in 2026 will lead to a weaker dollar and a higher EUR/USD. Our fair value estimate for EUR/USD is around 1.15, but considering higher FX volatility and more geopolitical uncertainty, it would be prudent to consider a broader 1.15-1 range.
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