Cyclical factors maintain greenback's strength
CURRENCY FORECASTS
This was based on the view that cyclical factors would dominate as the major driver of the dollar, he said. "This indeed turned out to be the case, with the relative strength of the US economy and consequent tightening in US rate expectations giving firm support to the dollar," he said. "At the same time, we did not ignore negative structural factors such as the dual current account and fiscal deficits, but realised that the market obsession with them would not be sustained."
Kotecha added that
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