外汇市场_汇率热点问答-FX Markets Weekly_ Top of mind Q&A for currencies

Global Markets Strategy 30 January 2026 J P M O R G A N FX Markets Weekly Top of mind Q&A for currencies Outlook: Keep bearish USD view. Some consolidation is possible but underlying drivers remain intact. USD weakness is well explained by relative equity returns (Figure 1 USDweakns iwelxpand byrelativ quyretns). USD is undershooting vs. rates but this is typical in procyclical regimes; downplay the latter signal. This is not a 'Sell America' moment; it's about diversification with EM the main beneficiary o ...