Research
Why the U.S. Dollar Could Stay Stronger for Longer
A Structural Reading of Yield Differentials, Relative Growth & Policy Divergence
Markets continue to price a softer Federal Reserve path than current macro conditions justify. The dominant consensus narrative remains eventual rate cuts, lower Treasury yields, easier financial conditions, and a weaker U.S. dollar. When sentiment is stripped away and the underlying structure assessed, the case for continued dollar resilience remains materially stronger than many participants appreciate.
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| ✓The Asymmetry Favours the Dollar: the full section, every level dated and sourced. |
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| ✓U.S. Economy Still More Resilient Than Peers: the desk's calibrated read, unabridged. |
| ✓Safe-Haven Demand Still Underpriced: complete, with what would change the view. |
| ✓Why Higher-for-Longer Reinforces the Dollar: the full section, every level dated and sourced. |
| ✓Sticky Inflation Delays the Pivot: the complete read behind the desk. |
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| ✓2 charts and exhibits, desk-built from primary data. |
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