LIVE MARKETS-Difficult days are back for dollar bears

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DIFFICULT DAYS ARE BACK FOR DOLLAR BEARS

We'd just got into the swing of 2025 being a surprise year of dollar weakness when the selling started petering out.

Euro/dollar and sterling/dollar are basically flat in the past three weeks, and dollar/yen has been gradually nudging higher, a sharp contrast with February when the dollar was down pretty much across the board. EUR=EBS, GBP=D3, JPY=EBS

Part of the reason, says Kit Juckes, head of FX strategy at Societe Generale, is the basic idea that policy uncertainty in the U.S. will lead to weaker growth is yet to really show up in the hard data.

To be sure, survey data is showing it, and U.S. consumer confidence plunged to the lowest level in more than four years in March, Tuesday data showed, but less so in solid numbers about what people are actually doing.

"We're priced for weaker economic data believing the chaotic actions of the government and the uncertainty that has been caused will have an economic impact," Juckes says.

"That seems right, but every day that you don't get solid hard evidence to support that is a difficult one for a dollar bear, and we've had a few of those in the last few days."

(Alun John)

FOR WEDNESDAY'S OTHER LIVE MARKETS POSTS:

DECLINES AS HEALTHCARE AND AUTOS LEADS LOSSES CLICK HERE

EUROPE BEFORE THE BELL: GAINS AHEAD OF UK BUDGET UPDATE CLICK HERE

LOOKING TO APRIL 2 WITH TREPIDATION CLICK HERE