Bloomberg: US dollar will plunge soon
Ulf Lindahl believes the dollar will plunge about 40 percent against the euro.
The dollar will plunge about 40 percent against the euro by 2024, Ulf Lindahl, the chief executive officer ofLLC, predicts.
The currency manager also notes that since the 1970s, the dollar has been repeating a 15-year cycle of losses and gains, Bloomberg pens.
As Ulf Lindahl says, this pattern is replaying now: by 2024, it will fall as far as $2 per euro and 75 yen per dollar by 2024. Thus, the US dollar declines of about 41 percent and 33 percent, respectively.
That’s a big departure from the median forecast of analysts surveyed by Bloomberg, who see the euro at $1.28 in 2022.
For those clients who seek an economic rationale, Lindahl points to bearish factors that will weigh on the greenback: a likely slowdown in US growth that will curb Fed interest-rate increases, peaking US equities and Treasury yields, political turmoil, and the dollar’s overvaluation on a purchasing-power-parity basis against almost all major currencies.
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