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FX Trends: G10 FX: Good things come to those who wait

25 June 2024

Key takeaways

  • FX markets are seeing key differences in the tone and pace of G10 central bank exit strategies.
  • In our view, the USD is likely to outperform most other G10 currencies in the coming weeks…
  • …supported by relatively high yields and a patient Fed exit strategy, among other factors.

Our tactical view

Table of tactical views where a currency pair is referenced (e.g. USD/JPY):An up (⬆) / down (⬇) / sideways (➡) arrow indicates that the first currency quotedin the pair is expected by HSBC Global Research to appreciate/depreciate/track sideways against the second currency quoted over the coming weeks. For example, an up arrow against EUR/USD means that the EUR is expected to appreciate against the USD over the coming weeks. The arrows under the “current” represent our current views, while those under “previous” represent our views in the last month’s report.

Note: ^DXY = US Dollar Index, is an index (or measure) of the value of the USD against major global currencies, including the EUR, JPY, GBP,CAD, SEK and CHF. Source: HSBC

Explanation of terms

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