When will King Dollar fall?

See the latest Australian dollar analysis here:

Macro Afternoon

TD Securities with the note. I don’t agree with them. DXY is not going to fall as the US recession gathers steam. That promotes the flight to safety. Moreover, it presents China and Europe as the victims of a follow-on trade shock that will drag them down shortly afterward. Indeed, I am still quite concerned that the entire Fed tightening cycle ends in a China crisis that crashes the CNY. 

In short, DXY is king at least until the Fed flips and perhaps until US growth bottoms.

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