2006 is likely to be a year when the dollar will struggle. We think the Fed is now very close to a peak.
Steven Saywell
struggle close
It's a case of shifting fundamentals and pricing in a rate cut.
We anticipate one further rate hike to 5.0% in May, and Fed funds to remain stable at that level into 2007. Interest rate markets are now pricing in some chance of a move to 5.25%, which we believe to be unfounded.
chance interest
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