USD rally or profit-taking opportunity?

Mark O'Donnell
- Research Analyst -
November 18, 2024
CFD, Forex, Trading Opportunities

The USD rally, driven by Trump’s return, faces limits according to Credit Agricole.

The dollar extended its gains on Friday, bolstered by Donald Trump’s White House return, pressuring the Aussie and Kiwi by over 1%.

French international banking group Credit Agricole flagged Trump’s policy agenda as a source of upside risk for the greenback but dismissed the likelihood of another 2018-style rally.

With the dollar’s already elevated level, Credit Agricole analysts see limited scope for a repeat of past surges. By late 2025, they project dollar weakness as Federal Reserve rate cuts accumulate. Near-term, the prospect of profit-taking could cap further gains.

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