Earlier from DB is here: Deutsche Bank forecasts four Fed interest rate cuts ... by January!
Separately, this time from the bank's global head of currency research in a Bloomberg TV
- "The risks aren't around intervention itself, but that you shift into next year into what we have termed capital wars, whereby the U.S. is no longer just focusing on trade, but is thinking about taxing capital inflows to stop a strengthening dollar"
- "Because no one wants to accept a strong currency, it's very unlikely you get coordinated intervention"
- new discussion around taxing foreigners who own Treasuries - eg. to raise withholding tax on interest income to foreigners and that would weaken the dollar
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Note - there is nothing on the near term horizon on this, but do keep an eye out for developments.
