FW: [Maybank] How Much Lower for USD?

 

 

, GBL: How Much Lower for USD? FX Weekly by Saktiandi Supaat FX Research We believe broader macro trends are at play. We highlighted USD as a countercyclical play – USD tends to underperform when global economic growth is well. Though US tax reforms/infrastructure spending could be implemented soon, budget deficit as % is also expected to rise. ). If history is of any guide, the period of 2001-04 and 2007-2009 which saw an increase in budget deficit coincided with decline in the USD. We also highlighted that 78-month USD rally cycle (as seen in 1978 and 1995 ... Saktiandi Supaat    (65) 6320 1379    saktiandi@maybank.com.sg Christopher Wong    (65) 6320 1347    wongkl@maybank.com.sg Disclaimer This email and its attachment(s) are confidential and are intended solely for the use of the individual to whom it is addressed. Any views or opinions expressed are solely those of the author and do not necessarily represent those of Maybank Kim Eng or any of its affiliates. Intended recipients of this email are prohibited from disseminating, forwarding, printing and/or copying its contents. If you are not the intended recipient of this email, you are strictly prohibited to take any action based upon them, which also includes dissemination, forwarding, printing and copying of its contents. Maybank Kim Eng Research sent this e-mail to you because your Notification Preferences indicate that you want to receive information about our daily research reports. If you wish to read Disclaimer in details, please click HERE. To unsubscribe or change preference settings, please contact your representative HERE.