THE OUTLOOK FOR 2019

Biyi Cheng, head of Greater China at CMC Markets, assesses the prospects for various major currencies in late 2019

Whether the repercussions are from Brexit or the trade war, CMC Markets looks at how the central banks’ reactions during the first three quarters of 2019 have affected currency rates, and what investors can expect as the year comes to a close. USD: GRADUALLY RETREATING The US Dollar Index (DXY) has extended its bullish performance of 2018 into the first half of 2019, supported by relatively strong fundamentals in the US economy and the rising appetite for risk aversion driven by geopolitical conflict. The DXY peaked at 98.93 on July 31—its highest level in the past 26 months—after the US Federal Reserve announced the first rate cut since December 2018. President Trump has blamed the Fed on multiple occasions for maintaining the benchmark rate at a high level, which has had a negative…

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Tatler Hong Kong (Digital) - 1 Issue, October 2019

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