English to German Bus/Financial Investment / Securities

Dynamic FX drivers

***Down but not out***

Our central FX scenario for 2018 was that rising interest rate differentials and stronger U.S. growth would support the U.S. dollar in 2018, but with alternative drivers such as central bank rhetoric, political initiatives and fund flows also impacting exchange rates. So far, the U.S. dollar has not strengthened as expected, and has been one of the worst performing major currencies year to date, taking it to near its lowest level in three years. However, we believe that the recent weakness in the U.S. dollar is not in line with fundamentals and that the dollar should regain strength into year-end due to the growth and interest rate differentials factors noted above. A more hawkish Fed is increasingly in contrast with a still-accommodative BoJ and ECB. Positioning in the currency also looks stretched: net longs in the U.S. dollar (particularly against the euro) are near their lowest level on record.


Hat jemand eine Idee, wie man diese Überschrift (sie sich auf den US-Dollar zu beziehen scheint) übersetzen könnte?