What are J.P. Morgan, Goldman Sachs & Others Expecting In FX?
2 min read
The dollar has performed well over the last three months. In fact, it has outperformed most currencies. The only exception in G10 is the yen, while currencies like the Norwegian Krone and New Zealand dollar have fallen by 5%-6%. In EM, on a spot basis, almost all currencies have weakened against the dollar. The Argentine peso was the standout underperformer, losing over a quarter of its value, while others like the Brazilian real and South African rand fell by 8%. If we incorporate the carry or interest earned, the picture improves somewhat for EM with currencies like the Indonesian rupiah and Turkish lira eking out small gains against the dollar...
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