Société Générale: The decline of the US dollar may be limited, signs of a reversal in recovery are emerging

ChainCatcher news, according to Golden Ten Data, Société Générale pointed out that the recent decline in the US dollar exchange rate against a basket of currencies is expected to be limited. After the US dollar index hit its highest point in more than nine months, long positions on the dollar appear to be excessive. The foreign exchange market is seeing a reversal in the dollar's recovery trend; however, the rebound of the euro or the pound against the dollar may not last. The US dollar typically benefits from rising energy prices and investors seeking safe-haven assets.