If the market begins to expect a more imminent end to the Fed's tightening cycle that would certainly remove the interest rate support for the dollar,
More Quotes from Harvinder Kalirai:
The commodity story remains very positive for Australia. Relative to commodities prices the Australian dollar isn't overvalued.Harvinder Kalirai
There are very early signs of (a manufacturing slowdown), but I don't think they're conclusive enough to halt the Fed from tightening policy further, ... But I think, ultimately, with the economy running hot and inflation on a clear upswing, we see headline inflation moving towards and perhaps even surpassing 3 percent as we head into next year.
Harvinder Kalirai
With the Fed stopping, and policy elsewhere in Europe and Japan going in the opposite direction, it should be relatively positive for the euro and yen.
Harvinder Kalirai
High commodity prices are boosting Brazil's terms of trade and leading to record trade surpluses. A favorable external backdrop and still high real interest rates should support the Brazilian real.
Harvinder Kalirai
We're seeing a benign neglect in terms of the weakness of the Japanese yen. There's little reason for the Japanese to be worried because it seems the lower the yen gets the bigger the support it gives to exporters.
Harvinder Kalirai
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