Strategists at Lombard Odier continue to forecast dollar weakness over the next 12 months, saying in a research note that some consolidation is possible, but a larger recovery appears less likely. Investors are moving modestly away from U.S. assets towards Europe and Japan, posing downside risks to the dollar, although the recent underperformance appears to have continued.
They said a slowdown in U.S. economic growth and the possibility of unexpected growth elsewhere in 2026 would lead to a weaker dollar and a higher EUR/USD. Our fair value estimate for EUR/USD is around 1.15, but considering a broader range of 1.15-1 would be prudent given higher FX volatility and more geopolitical uncertainty.
Analysis: The dollar will remain weak, with some consolidation possible
2025-07-01 06:43:04
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