USD: A 2-Month Respite For USD Bulls; What's Next? - CIBC

CIBC FX Strategy Research discusses the USD outlook, arguing that the USD's recent recovery is coming close to an end on the ground that that proposed US tax reforms are not likely to be a game changer for USD into the new year.
"It's been a respite for reeling dollar bulls over the past couple of months, but don’t expect that to last. While investors have been optimistic about tax plans being bandied about, the reforms might not become the game changers some are banking on...
Given the mounting headwinds from tighter monetary policy abroad and the country’s sizable current account deficit, the tax bill isn’t likely to turn the tide on dollar weakness next year," CIBC argues.