BofA likes the USD lower and GBP higher ...Middle East

USD: BearishThe bank expects a weaker USD in the medium term due to anticipated Fed rate cuts and slower US growth. But downside is somewhat balanced by the fact that a significant amount of easing is already priced in (approximately 190bps). Risks include the potential for slower-than-expected Fed easing and uncertainties around the upcoming US elections, which could impact the USD in either direction.EUR: Neutral to BullishBank expects the EUR to appreciate against the USD, with a year-end EURUSD forecast of 1.12. They base their view on expectations of US disinflation supporting Fed rate cuts. The EUR is likely to perform better against CHF and CAD due to relative ECB policy, but may not

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