
UOB's May 2025 exchange rate strategy report forecasts the US dollar will keep weakening, with the DXY falling to 96.9 by Q1 2026. It expects EUR/USD to reach 1.17 and the dong to face downward pressure from Vietnam-US trade developments.
The bank also sees the yen appreciating toward 140 per dollar.
A forecast of persistent dollar weakness supports dollar-priced commodity demand from importers, though the dong outlook points to higher local feed import costs for Vietnam. The forecast is a view rather than a new shock.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.