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Yesterday Federal Chair Jerome Powell maintained their accommodative outlook in an interview with Princeton University, which has since put a dampener on recent greenback strength.
Simply put, the sustained weakening of the U.S. Dollar throughout 2020 may well continue further into 2021 due to additional currency supply. This ultimately weighs negatively on the U.S Dollar and will likely favor the safe-haven Yen.
As mentioned in my previous article, rising US Treasury yields may soften the Dollar downside however, the combination of a global recovery and further stimulus may suppress any sort of Dollar recovery.
