Lombard Odier Expects Further US Dollar Strengthening

Against the backdrop of stronger U.S. economic growth and easing market concerns over the Federal Reserve's independence, the U.S. dollar's outlook has improved. Lombard Odier & Cie has shifted to a bullish stance on the USD, reversing its prior bearish position. The institution has lowered its EUR/USD forecast from 1.14 to 1.09, raised its USD/CHF forecast from 0.83 to 0.85, and adjusted its view on the USD against emerging market currencies to neutral. This marks the latest step by Lombard Odier to further dial back its bearish USD positioning; the firm had already upgraded its USD allocation recommendation from underweight to neutral back in June.

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