EM forecaster of 2018: City Index sees range-bound dollar in 2019
Despite ongoing rate hikes, the dollar is not expected to appreciate substantially in 2019, as the Fed tones down its hawkish stance
A range-bound dollar will provide much needed relief to emerging market (EM) currencies in 2019, as the Federal Reserve loosens its hawkish stance to accommodate the volatility brought on by continued selling on US stock markets, says Kelvin Wong, chief technical strategist for Asia at City Index.
The broker, which was FX Week’s top forecaster for EM currencies in 2018, does not see the US central bank changing tack on interest rates quite yet.
Wong expects the Fed to continue its hiking cycle
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