Dollar to stay bright this year before fading in 2024, analysts say: Reuters poll

The dollar's strength will be difficult to overcome for most major currencies by year-end, according to a Reuters poll of forex strategists who said the risks to their greenback outlook were skewed to the upside.

Backed by a strong economy and rising U.S. Treasury yields, some of the highest among developed economies, the dollar despite bouts of weakness has stayed resilient against most major currencies.

"We think dollar strength has got further to run and will sustain over the next three months," said Jane Foley, head of FX strategy at Rabobank. The euro , unable to make any significant headway over a deteriorating growth outlook and up only 0.13% for the year, was forecast to trade 1.7% higher at $1.09 in three months, largely unchanged from an August survey.The Japanese yen , already down over 11% for the year against the dollar, trading at 147/dollar on Wednesday, was forecast to pare back all of the current year's losses and change hands at 132/dollar in the next 12 months.

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