11 Jun 2013
Flash: 10% appreciation by the USD in 12-18 months - Societe Generale
FXstreet.com (Barcelona) - The combination of economic out-performance by the US, relative shifts in G3 rates/yields, and
structural improvements in the US balance of payments justify at least a 10% appreciation by the USD over the next 12-18 months, says Kit Juckes, head of FX at Societe Generale.
Juckes sees "the DXY potentially rising to around 90, EUR/USD heading (eventually) for 1.230, USD/JPY for 110, USD/CAD can trade back to 1.10 but not back to 2009’s recent peak just under 1.30, while AUD/USD can target 0.85 but perhaps not 0.70."
structural improvements in the US balance of payments justify at least a 10% appreciation by the USD over the next 12-18 months, says Kit Juckes, head of FX at Societe Generale.
Juckes sees "the DXY potentially rising to around 90, EUR/USD heading (eventually) for 1.230, USD/JPY for 110, USD/CAD can trade back to 1.10 but not back to 2009’s recent peak just under 1.30, while AUD/USD can target 0.85 but perhaps not 0.70."