A dealer counts US dollars at a money exchange market in Karachi, Pakistan, on January 27. The US dollar enjoyed a bull run in 2022, but many of the underlying factors driving its surge are starting to abate. Photo: AFP
A dealer counts US dollars at a money exchange market in Karachi, Pakistan, on January 27. The US dollar enjoyed a bull run in 2022, but many of the underlying factors driving its surge are starting to abate. Photo: AFP
Sylvia Sheng
Opinion

Opinion

Macroscope by Sylvia Sheng

US dollar’s bull run set to end as China, Europe and Japan stabilise

  • China’s economic reopening, reduced recession risks in Europe and expectations of policy shifts in Japan are acting as key catalysts to weaken the US dollar
  • As US exceptionalism in economic growth and interest rates fades with a more positive outlook elsewhere, the dollar has room to retreat further in 2023

Sylvia Sheng
Sylvia Sheng

Updated: 2:30am, 18 Feb, 2023

Why you can trust SCMP
A dealer counts US dollars at a money exchange market in Karachi, Pakistan, on January 27. The US dollar enjoyed a bull run in 2022, but many of the underlying factors driving its surge are starting to abate. Photo: AFP
A dealer counts US dollars at a money exchange market in Karachi, Pakistan, on January 27. The US dollar enjoyed a bull run in 2022, but many of the underlying factors driving its surge are starting to abate. Photo: AFP
READ FULL ARTICLE