Altering our FX forecasts to reflect longer-duration weakness in the USD

We have decided to fundamentally change our USD view. We now donot expect the USD to significantly strengthen until the real Fed Fundsrate turns positive in early 2016 (chart 1). We do however expect somemild USD strength as the US-G6 two-year swap spread begins to turnpositive in early 2015 (chart 2).

Read the full report: Market Research

 

CAN