Despite potential rate hikes by the European Central Bank (ECB) and the Bank of England (BoE), sluggish economic growth in the Eurozone and UK may not be enough to strengthen the EUR and GBP. This comes at a time when the USD valuation is historically high, following a 6% surge in the US Dollar Index (DXY) since mid-July 2023.
HSBC also anticipates selective gains for currencies such as the Chinese Yuan (WY), Swiss Franc (CHF), and Canadian Dollar (CAD) against the resilient USD. However, these predictions are subject to various global market conditions and economic indicators.
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