Weak greenback benefits RBC
RBC's expectation of a broad weakening of the greenback, particularly against the euro and British pound, was led by two factors, Adam Cole, RBC's London-based senior currency strategist told FX Week.
Cole said that during the first quarter of this year, US policy debate centred on the Fed either cutting rates to support the weakening housing market, or hiking rates for the "wrong" reason. This, he said, included targeting higher inflation, regardless of weakening growth. "Neither scenario was
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