BANK OF AMERICA SEES NO DOWNSIDE FOR DOLLAR DESPITE TARIFFS SELL-OFF
BANK OF AMERICA SEES NO DOWNSIDE FOR DOLLAR DESPITE TARIFFS SELL-OFF
The US dollar fell more than 1% following the announcement of a "comprehensive tariff" plan by the new US administration.
Investors are concerned the dollar could follow a similar downtrend as seen during the first year of Trump’s presidency in 2017.
Analysts at Bank of America believe there is not enough evidence to declare a downtrend for the dollar.
The DXY index dropped to 108, considered a short-term equilibrium level for the dollar after the hawkish stance by the Federal Open Market Committee (FOMC) in December 2024.
