Qatar National Bank (QNB) expects the US interest rate to start being cut in the second half of 2024, and ruled out further appreciation of the US dollar beyond current levels.
The bank expected in a new report that the US currency would adjust to more equitable levels, which are likely to be supported by the narrowing of the growth gap between America and the rest of the world, as well as the beginning of the monetary easing cycle in the United States later this year.
The bank's report explained that there are few indicators that convey information about global macroeconomic trends as much as currency fluctuations do. This is especially true for the deep and liquid markets for major foreign currencies in advanced economies.
