Core Viewpoint - The US dollar is expected to remain stable until 2026, although there are significant downside risks associated with this prediction [1] Group 1: Market Trends - Despite strong gains in the S&P 500 and Nasdaq indices, foreign capital inflows into the US market are declining, increasing the risk of these inflows dropping to zero or turning negative [1] - A potential sell-off of the dollar and hedging strategies may emerge as a powerful trading force [1] Group 2: Risk Factors - An estimated 10% increase in hedging by Japan could lead to approximately $140 billion in dollar sell-offs [1] - Key risks to monitor in 2026 include the Supreme Court's ruling on tariffs from the Trump administration, issues surrounding the independence of the Federal Reserve, and the ongoing Cook impeachment case [1]
野村证券：预计美元在2026年大致稳定
Sou Hu Cai Jing·2025-12-04 07:20