The Tell: 4 reasons why the U.S. dollar can rally to parity with the euro — and beyond: Deutsche Bank


As Europe’s energy crisis and slowing economy weigh on the euro, Deutsche Bank’s George Saravelos noted Wednesday that “safe haven” demand has driven the U.S. dollar to its strongest level against the shared currency in more than 20 years.

Since markets are pricing in multiple Federal Reserve interest rate cuts in 2023, after raising rates this year to combat inflation, expectations about interest rate differentials may no longer be driving the dollar, Saravelos argued in a research note. In that sense, the dollar has “decoupled”…

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