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Actualización mensual de mercados

September Op-Ed: Dollar reigns supreme

  • 28 Septiembre 2022 (7 min de lectura)

Key points

  • The Fed needs to see a softening of the labour market and will hike until it sees one.
  • The Fed’s hawkishness has some contagion effects on Europe, but the ECB is finding more and more reasons to underpin its own “big” and “fast” hikes.
  • US$ strength reflects the better position of US economy, cyclically and structurally.
  • Vicious circle of inflation, rate hikes and weaker currencies threaten Europe.
  • Cheap UK and European equity markets may eventually contribute to new inflows.
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