The Scotiabank economists They expect the Dollar Index to maintain losses in April, which could extend into the third quarter.
April is the worst month of the year for the DXY in the last 20 years
“The DXY could fall a little further and broader USD losses extend to a further 2-3% (and perhaps as much as 5%) from current levels in the coming months. Those losses could be concentrated in the second quarter of the third quarter before a rebound later in the year, if seasonal patterns are any guide.”
“Seasonal trends are about to turn less favorable for the USD. Over the past 20 years, the DXY has weakened 70% of the time through April, starting a mild streak in the broader USD performance that normally spans to Q3. The DXY has weakened an average of -1% in April since 2002.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
