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Video / 14 October 2016 at 13:02 GMT

Looking at an eventual massive weakening of USD — #SaxoStrats video

Steen Jakobsen
A strong dollar will have a negative effect on US growth and global activity, says Saxo Bank's chief economist Steen Jakobsen.

However, the strong dollar is currently putting pressure on currency deficits and that's why Jakobsen is short South African rand, Turkish lira and Canadian and Australian dollars. 

And the likelihood of a Federal Reserve rate hike in December and money market reform currently underway puts further upwards pressure on the greenback.

Jakobsen says that it is a rule of thumb that a strong dollar will lead to US recession and he believes we will see that in the first part of 2017. At that point, Jakobsen believes that we will see a massive weakening of USD.

Read more of Jakobsen's views on USD here.
Market Predator Market Predator
@Steen: hello Sir, you have extremelly important entries. There was PDF called SteenStressIndicators, info about currency SWAPs etc. is it possible to organise macro webinar where these essencial could be explained for folks? Wish you nice weekend, regards MP!
Pandorra Pandorra
Hi Steen, you were exactly right in early Dec, 2015 in Moscow about Brazil and Russan stocks rally and US dollar weakening after Fed hike rate decision.
I'd like to ask, is your global 1-2-3 vision for eurusd still in play for this year or not?
Thank you.
Klauss Klauss
I agree with this opinion
Teofilo Teofilo
@Steen, USD weakens in Q217 and the UK will try to weaken GBP to avoid risks of Brexit hard landing yet try to deal with increasing inflation from currency effect. Plus China inflation... perfect storm is brewing...
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