The U.S. dollar will continue to dominate currency markets for at least another three months as investors prefer the safety of the greenback in a world fraught with risks emanating from the coronavirus crisis, a Reuters poll showed.
FILE PHOTO: Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. REUTERS/Rick Wilking
While most major currencies were subjected to deep losses, the dollar has gained over 3.5% this year and the currency’s domination - which started more than two years ago - is at minimum likely to extend for another three months. A majority of analysts who answered an additional question - 26 of 34 - said the dollar’s dominance will at least continue into the next quarter. Seven said less than three months, while only one said it was already over.
While most major currencies are expected to rise against the greenback over the next 12 months, those expected gains, if realized, will still not cover the losses they have accumulated so far this year.
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