Nordea: Structural Headwinds for USD After Recent Strength
Nordea analyst Kristian Nummelin highlights that strong U.S. data and higher energy prices have recently buoyed the dollar, but structural headwinds are expected to weigh on it going forward.
DXY
Nordea's Kristian Nummelin observes that the U.S. dollar has been supported in recent weeks by robust economic data—including payrolls, ISM indices, and JOLTS—as well as higher energy prices. However, these factors are seen as temporary tailwinds.
Nummelin warns of structural headwinds that could pressure the dollar over the medium term, though the exact nature of these headwinds is not detailed in the note. The shift in outlook suggests that the recent dollar strength may not be sustainable.
Source: FXStreet Forex News