Suggesting the current dollar weakening trend has further to go, a near two-thirds majority of analysts, 28 of 45, who answered a separate question said the dollar is likely to trade lower than current levels against major currencies by year-end.
The euro zone economy shrank 0.1% last quarter and is expected to flat-line in this one, barely skirting a recession.
The Japanese yen, the worst-performing major currency for the year, is expected to remain under pressure in the near-term.
The yen is expected to gain over 10% to change hands at 136/dollar in a year, the poll showed.
Emerging market currencies are expected to take well into next year to post noticeable gains against a retreating U.S. dollar.
Persons:
Florence Lo, we’ve, ”, Lee Hardman, “ It’s, we’re, Simon Harvey, Sterling
Organizations:
REUTERS, Federal Reserve, MUFG, Futures Trading, U.S, “
Locations:
BENGALURU, U.S, Europe