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Jun 24 - 02:55 PM

USD: This Global Recovery An Exception To The 'Sell USD' Pattern - BofA

By eFXdata  —  Jun 24 - 01:30 PM

Bank of America Global Research discusses the USD outlook and maintains a core bullish view through year-end. 

"The US economy is set to outperform by an historically-wide margin in 2021 and 2022, making this global recovery an exception to the "sell USD" pattern. We expect supportive capital flows - particularly direct investment - into USD on the back of wide growth and interest rate differentials," BofA notes. 

"We expect USD appreciation concentrated against lower-beta FX, in particular EUR, where we see policy normalization as being compromised. We are constructive commodity currencies experiencing large terms-of-trade gain," BofA adds. 

Source:
BofA Global Research

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