Commerzbank says the scope for the US dollar to rise further is limited, saying Trump's main macroeconomic impacting police s will likely be weaker than the bluster:
- import tariffs may well be much less comprehensive than anticipated
- on immigration, there will be some deportations but not enough to generate significant wage pressure
- while Trump’s policies are inflationary, the impact will be limited, Federal Reserve to have little need to raise interest rates
Project EUR/USD to 1.05 in March 2025, than back to 1.07 by the end of that year.
