King dollar not yet ready to abdicate, say FX strategists

 King dollar not yet ready to abdicate, say FX strategists

A U.S. five dollar note is seen in this illustration photo June 1, 2017. REUTERS/Thomas White/Illustration/File Photo

  • <a href=”reuters://realtime/verb=Open/url=cpurl://apps.cp./Apps/fx-polls?RIC=EUR= poll data”></a>
  • <a href=”https://tmsnrt.rs/3a8Nh8O”>Reuters poll graphic on major currency market outlook:</a>
  • <a href=”https://tmsnrt.rs/3oEqJoO”>Reuters poll graphic on the outlook for EUR/USD, USD/JPY, GBP/USD and USD/CHF:</a>

BENGALURU, Oct 7 (Reuters) – King dollar will dominate currency markets in the near term before ceding ground to its peers in a year, found a Reuters poll of FX strategists who said U.S. Treasury yields would give the greenback the most direction over the next 12 months.

Bolstered by the U.S. Federal Reserve’s tapering plans and a growing chorus of Federal Open Market Committee members now forecasting a rate hike by the end of next year, benchmark yields in the U.S. have risen sharply. That has sent the dollar…

Read full article…www.reuters.com