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Apr 19 - 06:55 PM

USD: Markets Have Substantially Priced In Fed Rate Hikes And Higher Inflation - Nomura

By eFXdata  —  Apr 19 - 03:00 PM

Nomura Research discusses the USD outlook on the back of the recent fall in US yields.

"At the start of April, we saw scope for US yields to stabilise and USD to soften , a view that has gained further support from the market reactions to recent, stronger-than-expected US macro data (CPI and retail sales)," Nomura notes.

"We continue to believe that markets have substantially priced in Fed rate hikes (just over three 25bp hikes by end-2023), higher US inflation expectations (5Y breakeven ~2.16%) and significant upward revisions to US growth forecasts (Bloomberg consensus Q2 US GDP at 8.1% q-o-q SAAR)," Nomura adds. 

Source:
Nomura Research/Market Commentary

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