2 things could make the dollar 'really surge' in 2020, HSBC strategist says
He noted that central banks in those markets, such as the Reserve Bank of Australia, the Reserve Bank of New Zealand, the ECB and the Bank of Japan, were already "right at the end of their limits on monetary policy."
"Slower developed market growth forces a much more unconventional policy response from developed markets, but the Fed still has policy room in terms of rate cuts, so the dollar rallies on that." "The other angle is the emerging markets angle, places where there's heavy positioning, where yields have come much lower so you're not getting the kind of yield buffer that you used to get — you're not effectively getting the return you need to take the risk that's still there in emerging markets," he said.
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