Market Views: The best performing currency of 2023
Last year belonged to the US dollar, which gained strength as almost every other global asset class fell. Which currency is likely to outperform in 2023? AsianInvestor asks market specialists to name their picks.
The US dollar continued to gain strength in 2022, largely due to the hawkish policy adopted by the Federal Reserve in response to soaring inflation.
The Fed lifted the federal funds rate—which effectively dictates the cost of money in the US economy—from near zero at the beginning of 2022 to its current range of 4.5% to 4.7% at the January Federal Open Market Committee (FOMC) meeting.
Source: Federal Reserve Bank of New York
The strength of the dollar isn't just about Fe…
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