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MUFG Exchange Rate Forecasts 2024 - December Update
The dollar posted sharp losses in November with increased confidence that the Federal Reserve would cut interest rates as early as March 2024. MUFG notes that the heavy schedule of central bank meetings in December will be crucial in determining whether the narrative of declining inflation and central bank rate cuts in 2024 is sustained or whether there is a more determined move by central banks to push back against market expectations. MUFG commented; “We are reluctant to make wholesale changes to forecasts at this juncture and believe the global challenges that lie ahead will at least curtail further US dollar ... (full story)