Having been very much to the fore for the first three quarters of last year, the dollar lost some ground in the final months of 2022. A perfect storm of rising US interest rates and bond yields, and a surge in commodity prices drove the greenback higher up until around the end of September.

Some Silver Linings in Dark Clouds

The World Bank, in its latest Global Economic Prospects report released earlier this month, warned that the global economy is perilously close to falling into recession this year.

AIB's Economic Research Unit provides regular commentary on the domestic and global economy, currency and interest rate markets, and special commentary on key events...