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May 21 - 10:55 AM

G4: Bumpy Road To The Start Of Summer; What's Next? - BofA

By eFXdata  —  May 21 - 09:30 AM

Bank of America Global Research discusses its G4 outlook for the remainder of the year.

"The US Memorial Day often marks the informal start to summer, and our macro outlook continues to look for a robust US growth picture with the economy reopening as vaccination rates rise and pandemic infections decline. In contrast, the most recent round of US data have been quite discomfiting for markets and the outlook, with the combination of a significantly weaker-than-expected employment report, and a historically higher-than-expected CPI number," BofA nots. 

"We continue to look for US outperformance to lead to a moderately higher USD in G4 and lower EUR, but markets continue to contemplate whether recent US inflation upside is transitory," BofA adds. 

Source:
BofA Global Research

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