Bank of Canada: The market is gradually fading the 'American exceptionalism', and the US dollar may further decline.

On March 11, Jinshi data, Canadian Royal Bank analyst Elsa Lignos said in a report that due to growing concerns about the slowing rise of the US economy, the US dollar may continue to be under pressure in the short term. She said that in the coming weeks, as US economic data slows down, the market is likely to be dominated by the continuing fading of the ‘US exceptionalism’ narrative. She said that US economic data has quickly shifted from better than expected to worse than expected. However, with Trump’s retaliatory tariff policies hitting other economies, the US dollar may recover in the second quarter. The Royal Bank of Canada expects the euro to rise to 1.11 in the first quarter and then fall to 1.05 in the second quarter.