Reuters Poll: Duration of US dollar weakness splits FX analysts

Following the King dollar’s dominance on Thursday, mainly led by strong data and tapering woes, Reuters surveyed 63 analysts and found that they’re evenly distributed over the next moves of the greenback.

“While currency speculators increased bets against the dollar to the highest since late February - driven by the Fed's dovish stance - 33 of 63 analysts answering an additional question in the May 28-June 3 poll said the greenback's weakening trend was broadly over,” said Reuters.

“The remaining 30 analysts said the weakening trend would continue, with views for the dollar to fall anywhere between 0.5% and 6.0% in the next three months,” it was further added.

Additional statements from the poll suggest that a long-held weaker dollar view persisted for the 12-month outlook with most major currencies expected to outperform.

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