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Déjà vu all over again for the dollar?

The US dollar’s struggles over the past month or so are reminiscent of the lead up to its sharp fall in Q4 of last year, but a similar slide over the coming months looks unlikely. Instead, we continue to think that the greenback will muddle through, edging higher over the coming months before weakening in 2024 as the Fed shifts towards easing and the global economic outlook improves.

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