Has the USD peaked? - ANZ

Research Team at ANZ, suggests that at the very least, further USD strength is likely to be substantially less linear than we have seen to date.

Key Quotes

“In fact, thinking about currency markets from a USD framework has probably become unhelpful. Asia seems to be in somewhat better shape than the most bearish views would suggest, there are some possible signs of a base in commodities, and some indicators even suggest that China might see a bit of a growth upswing.

As such, if the Fed is hiking in a more balanced global growth environment, then there are likely to be opportunities on both sides of the USD nexus, rather than just assuming the USD will do well against most everything else.”