The report by Nordea, authored by Jan von Gerich, discusses the recent rebound of the USD against the EUR and JPY. Despite the rebound, the report maintains a bearish outlook for the USD in the long term as investors seek alternatives.

Recent USD movements and market outlook

“Such moves once again suggest that the USD is not on the verge of collapse and worries towards the status of the USD can ease as fast as they arise.”

“That said, we continue to think the USD will weaken further going forward, as investors continue to seek alternatives to the USD, even if such a moves will not take place on a one-way street.”

“We maintain our core views of no rate moves from either the Fed or the ECB this year, while we continue to expect longer rates to creep higher.”

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