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US positive on Iran deal but talks still uncertain as ceasefire end nears
OPmobility reports 0.4% revenue fall as autos industry weakens
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Iran alleges US struck Iranian commercial vessel, demands crew be released – Foreign...
Kevin Warsh Heads for the Hill: A Confirmation Hearing Guide
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EQT Raises $15.6B for Asia Private Equity Fund
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Westpac Predicts Weakening US Dollar Amid Global Economic Shifts
Westpac has indicated that the US dollar is likely to weaken as markets begin to overlook the risks associated with the ongoing tensions in the Middle East. Despite the geopolitical turmoil, including disruptions to shipping and direct conflict risks, the dollar has struggled to maintain upward momentum and has instead drifted lower against various developed and emerging market currencies.
The bank attributes this trend to expectations of a gradual normalization in global trade flows, particularly through the Strait of Hormuz. As policymakers work to stabilize supply chains, the initial risk premium that had supported the dollar appears to be easing. Westpac forecasts that the US dollar index (DXY) could decline from its current levels near 98 to the mid-90s by late 2026, eventually settling closer to long-term averages.
In this context, major currencies such as the euro, sterling, Japanese yen, and Canadian dollar are expected to strengthen. Additionally, the Chinese renminbi has shown resilience, bolstered by its diversified energy supply and significant role in global manufacturing. Westpac also anticipates that emerging market currencies will benefit from improving global growth conditions and increased demand for industrial and green technology exports, signaling a potential shift away from traditional safe-haven currencies.
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Source: KLEA News