Societe Generale: The resilience of the US economy supports further appreciation of the US dollar, maintains end-of-year target for EUR/USD at 1.10

(1) Societe Generale analyst Kit Juckes stated in a report that the resilience of the US economy supports a further rise of the US dollar; he maintained his year-end target for EUR/USD at 1.10. (2) He mentioned that robust US inflation, along with better-than-expected retail sales and GDP data, offset the potential longer-term risks brought by tighter fiscal policy and Congress’s increased scrutiny of AI. (3) He said that while storm clouds may be gathering in the distance, for now, the United States economy continues to outperform most other economies.