CIBC remains bearish on dollar for medium term
Canadian bank’s currency strategist reckons the issue of twin deficits will thwart the greenback’s march
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The June rate-setting meetings of the Federal Reserve and the European Central Bank have sharpened the divergence between the policy paths of the two countries. But in the medium-term, structural issues in the US economy will dampen the dollar’s march, says Jeremy Stretch, head of G10 FX strategy at CIBC.
The dollar rallied after the Fed hinted at the possibility of a fourth hike this year, after its decision to nudge the key interest rate up 25 basis points on
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