Broad dollar strength on the horizon, says Wells Fargo
December hike of 25bp expected from Fed and it is likely to pull the trigger again in 2017, helping to propel the dollar
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The dollar is expected to make broad-based gains against its major peers over the next 12 months as expectations grow for a 25 basis point rate hike at the Federal Reserve's December meeting, says Erik Nelson, currency analyst at Wells Fargo, which topped last week's three-month forecast table.
"In our view, central bank actions, both actual and expected, remain the pre-eminent drivers of exchange rates," says Nelson, who believes the US central bank could hit the
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