Mitsubishi UFJ: The US dollar may record its worst annual performance since 2017

Odaily Planet Daily News: Mitsubishi UFJ analyst Lee Hardman stated in a report that the US dollar is expected to have its worst annual performance since 2017 and face further weakness next year. The dollar index is forecasted to decline by 9.3% this year. Its declines in 2017 and this year both coincided with the early period of President Trump’s term. Hardman pointed out that the dollar recovered some ground in 2018, rising by 4.4%, but a similar rebound is unlikely in the coming year. He believes, “As the Federal Reserve continues to cut interest rates and other G10 central banks have ended their easing cycles, the yield spreads between US Treasuries and other major economies’ government bonds will continue to narrow.” (Jin10)