The National Australia Bank has made "meaningful" upward revisions to its U.S. dollar projections across all major currencies, having earlier been hesitant to make changes due to the "fog of war." The key driver of the revisions is that the U.S. economy is proving much more resilient than anticipated, keeping inflation elevated and prompting a hawkish pivot by the Fed, NAB says. Still, NAB isn't yet forecasting that the Fed will lift rates, but it notes that the U.S. dollar's upswing since May has closely tracked the evolution of Fed policy expectations. (james.glynn@wsj.com; @JamesGlynnWSJ)
Dow Jones Newswires
NAB Announces 'Meaningful' Upgrades to U.S. Dollar Outlook — Market Talk
The National Australia Bank has made "meaningful" upward revisions to its U.S. dollar projections across all major currencies, having earlier been hesitant to make changes due to the "fog of war." The key driver of the revisions is that the U.S. economy is proving much more resilient than anticipat…