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The market events in March made it very clear to the many doubters that the USD is the safe haven of choice for many investors, Jane Foley, a Senior FX Strategist at Rabobank, reports.

Key quotes 

“We expect to see further bouts of USD strength over the coming quarter.”

“In our view, it may not be until there are signs of solid recovery in emerging markets that investors start to consistently and significantly reduce USD positions.”

“On a 3-month view, we see risk that the USD can dip to EUR/USD 1.05, GBP/USD 1.19 and AUD/USD 0.55 as the extent of the economy unfolds.”