CIBC is bearish on greenback for remainder of 2018
The firm says the dollar is overvalued, and facing a convergence of growth and monetary policy
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The dollar is set to weaken over the remainder of 2018 as it is currently overvalued and must contend with the growth picture elsewhere, as well as the willingness of other central banks to begin tightening their policies, says Bipan Rai, North America head of foreign exchange strategy at CIBC Capital Markets.
“We’re maintaining our bearish USD call on balance for the rest of the year,” he says. “Part of the story is predicated on valuation – we see the greenback
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