HSBC number one as US recovers
"We believed the market was too bearish on the US dollar and that the fundamentals were showing the US economy was surprising to the upside compared with expectations," said David Bloom, global head of currency strategy at HSBC in London. "Meanwhile, other regions were surprising to the downside."
HSBC expected US recessionary fears to be fully priced into the greenback in the first half of this year. Meanwhile, the other G-10 countries had begun to show signs of a sharp slowdown in growth
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