Focus - Currency Matters November 2024

The USD rallied over the last month as Fed rate cut expectations shifted from a sub-3% terminal rate to near 3.8% now. We still expect a 3.5% terminal rate, which if the market shifts again to agree with us, may temper the recent USD surge. On the charts USD/JPY risk is for a push on Y160/Y162 but we are still aiming for a consolidative pullback to Y140. Still looking for EUR/USD to break $1.1275 for a run higher in time, but see if the dip to $1.06 draws out EUR buyers ahead of the $1.0450 zone. If you would like to read our report, contact us at info@tricio-advisors.com.