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Nov 17 - 02:55 PM

USD: Expecting Modest USD Depreciation Over The Coming Year; Where To Target? - Barclays

By eFXdata  —  Nov 17 - 01:30 PM

Barclays Research discusses the USD outlook and targets EUR/USD at 1.19 and GBP/USD at 1.42 by end of 2022.

"We expect modest USD depreciation over the coming year, reflecting our views of a positive backdrop for risk and commodities alongside moderate USD overvaluation. Upside risks are largely from risk-off moves rather than US outperformance and limited relative to downside risks stemming from aggressive market pricing for tighter Fed policy," Barclays notes. 

"We see upside USD risks coming from a muddled debt ceiling resolution and/or risks of central banks overtightening in response to inflation and curbing growth prematurely," Barclays adds. 

Barclays Research/Market Commentary


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