Cooling global growth, continued geopolitical risks, and uncertainty around US election outcomes mean it could be a choppy ride for the next few months.
But if US economic data stabilizes while global growth slows, as Bharadwaj expects, European currencies could be set for a violent snapback.
"I do think that global growth right now is not holding up from our data trackers.
"And in fact, we actually track global growth upgrades versus downgrades.
And after a very long time, global growth downgrades are outpacing global growth upgrades, which indicates to me that even the global growth is not as rosy as markets are currently pricing it to be."
Persons:
Jayati Bharadwaj, it's, Bharadwaj, you've
Organizations:
Service, TD Securities, Business, International Monetary Fund, Federal Reserve, Securities
Locations:
China, Europe, India