Economy
July 27, 2022
CRU Economics: Dollar Remains King
Written by Filippos Papasavvas
By CRU Economists Filippos Papasavvas and Veronika Akhmadieva, from CRU’s Global Economic Outlook. Contribution from CRU Sr. China Economist Henry Hao.
We have further upgraded our US Trade-Weighted Index (TWI) forecast, which we now forecast to average 122.7 in 2022 Q4 from 120.5 previously. The change reflects our more pessimistic outlook for all other major currencies vis-à-vis the dollar, except for the Renminbi (RMB) where the economic re-opening boosted its value. Even so, we still expect the RMB to depreciate in 2022 Q4 from its current level, averaging 6.89.
