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FX strategy reports from leading investment banks

Firms Tracked
8
Consensus DXY
95.0
Report Period
28 November 2025 - 25 November 2025

J.P. Morgan

Global FX Strategy 2026

Bearish Dollar, Bullish Beta

USD BEARISH
25 November 2025Meera Chandan, Arindam Sandilya
DXY97.7
EUR/USD1.2Buy
USD/JPY164Sell
30 forecasts25 trades20 viewsView Report →

Goldman Sachs

Global FX Strategy 2026

Different Dollar Downside

USD BEARISH
10 January 2026Kamakshya Trivedi, Michael Cahill
DXY93
EUR/USD1.25Buy
USD/JPY148Buy
19 forecasts19 trades15 viewsView Report →

ING

2026 FX Outlook

Looking Beyond the Dollar

USD BEARISH
10 November 2025Chris Turner, Francesco Pesole
DXY95
EUR/USD1.22Buy
USD/JPY152Buy
19 forecasts12 trades15 viewsView Report →

Morgan Stanley

2026 FX Outlook: The Year of Pivots

USD bear first half, recovery second half

USD BEARISH
20 November 2025David Adams, Matthew Hornbach
DXY99
EUR/USD1.16Buy
USD/JPY140Buy
19 forecasts18 trades15 viewsView Report →

MUFG

2026 FX Outlook: Post-Peak USD World

Broad-based dollar decline of 5%

USD BEARISH
19 December 2025Derek Halpenny, Lee Hardman
DXY95
EUR/USD1.24Buy
USD/JPY146Buy
19 forecasts20 trades15 viewsView Report →

Bank of America

FX Outlook 2026: Structural Dollar Headwinds

Structural Dollar Headwinds

USD BEARISH
5 December 2025Athanasios Vamvakidis, Claudio Piron
DXY93.5
EUR/USD1.22Buy
USD/JPY147Buy
19 forecasts14 trades19 viewsView Report →

Deutsche Bank

FX Blueprint 2026: The Great Rotation

The Great Rotation

USD BEARISH
12 December 2025George Saravelos, Shreyas Gopal
DXY92
EUR/USD1.25Buy
USD/JPY143Buy
19 forecasts16 trades19 viewsView Report →

Barclays

FX Outlook 2026: Navigating the Turn

Navigating the Turn

USD BEARISH
28 November 2025Themistoklis Fiotakis, Lefteris Farmakis
DXY95
EUR/USD1.21Buy
USD/JPY149Buy
19 forecasts19 trades20 viewsView Report →