# 2022-2023 Exchange Rate Forecasts From Investment Bank Nordea - Update March

> Nordea's March update forecasts EUR/USD rising from about 1.10 to 1.18 and GBP/USD reaching 1.42 by the end of 2023. The bank expects the dollar to fade from mid-2022 as US growth slows, and it flags high option volatility linked to the Ukraine conflict. Commodity currencies are seen as having scope for gains.

- Date: 2022-03-24 · published 2022-03-24T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/42527-2022-2023-exchange-rate-forecasts-from-investment-bank-nordea-update-march
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker dollar later in 2022 would lower the cost of dollar-priced commodities for non-US buyers and could support commodity-linked currencies. These are long-range forecasts and not a near-term supply or demand shift.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-10-08 | [No Encouragement For US Dollar Bulls From A Dovish FOMC Minutes \| Exchange Rates UK](https://feedsoft.ai/events/50559-no-encouragement-for-us-dollar-bulls-from-a-dovish-fomc-minutes-exchange-rates.md) | -0.2% | -1.6% |
| DXY | 2024-01-10 | [Exchange rate to ease in 2024](https://feedsoft.ai/events/32424-exchange-rate-to-ease-in-2024.md) | +1.1% | +1.0% |
| DXY | 2023-01-23 | [SCB CIO sees the "baht" reaching 33-34 baht/US dollar at the end of the year. Recommends foreign investment to prevent exchange rate risk - Money & Banking Magazine](https://feedsoft.ai/events/38067-scb-cio-sees-the-baht-reaching-33-34-baht-us-dollar-at-the-end-of-the-year.md) | -0.4% | +1.0% |
| DXY | 2020-08-28 | [FED Sparks Currency Rate Moves, Dollar Pares Losses, Pound-Dollar Dips From 2020 Best \| Exchange Rates UK](https://feedsoft.ai/events/51869-fed-sparks-currency-rate-moves-dollar-pares-losses-pound-dollar-dips-from-2020.md) | -0.5% | +1.0% |
| DXY | 2020-02-12 | [2020-2021 Exchange Rate Forecast: Pound Sterling And Dollar To Lose Ground This Year Say Commerzbank](https://feedsoft.ai/events/54834-2020-2021-exchange-rate-forecast-pound-sterling-and-dollar-to-lose-ground-this.md) | +0.4% | +1.6% |

## Sources

- exchangerates.org.uk: https://www.exchangerates.org.uk/news/35380/2022-03-24-2023-exchange-rate-forecasts-from-investment-bank-nordea-update-march.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.