The US dollar – on a DXY basis – advanced 7.0% in 2024 on a closing basis and marked the third year in four in which the dollar appreciated on a yearly basis. But the calendar year basis performance hides the fact that the strength of the dollar was entirely a Q4 episode, fuelled by expectations and then confirmation of Donald Trump winning the presidential election.
In this video, Derek Halpenny, Head of Research, Global Markets EMEA & International Securities, notes that the market is well positioned for Trump's policies after the Q4 USD surge. Trump 2.0 will differ from Trump 1.0 limiting scope for further USD strength. Watch Derek's video for more insights.
Key point
- 00.18 - Trump and the US Dollar - it could get complicated
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