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US Dollar Outlook 2024: "Strong USD Selling Signal By Month-end Against All Majors" Say Barclays
Year-End Selling and Fed Expectations Drive Further Dollar Losses, EUR/USD Exchange Rate Hits 4-Month Highs The latest US data releases reinforced expectations that the Federal Reserve will cut interest rates in the first quarter of 2024. With a bearish dollar narrative still in place, year-end position adjustment continued to push the currency lower. The Euro to Dollar (EUR/USD) exchange rate strengthened to 4-month highs above 1.1030. The Pound to Dollar (GBP/USD) exchange rate also strengthened to highs just above 1.2740. Position adjustment will remain an important element over the remainder of 2023. Trading ... (full story)