The US dollar has greatly benefited from fear about omicron but today's price action showed tentative signs of better sentiment. There is some data showing infections are less severe and that could ultimately help bring the pandemic to an end.
Goldman Sachs is out with some new forecasts that show moderate USD strength in the next three months but that unwinds and reverses in the next 12 months.That fits in with a theme of global expansion that also shows up in copper, oil and equity forecasts.
In terms of the numbers, they see the euro currently near a bottom.
Overall, I've never gotten much value from long-term macro calls but it offers a good sense of where the consensus stands.
h/t @priapusIQ
