Monex's June 2026 FX Forecasts

Writing at the beginning of May, we expected the dollar to end last month modestly stronger – a view that played out broadly as expected. Having finished April trading around 98.1, the DXY index entered June at 99.0, helped at the margin by a combination of factors. Data, oil, and risk have all proven positive for the buck over the past month, arguably a little more so than our prior forecasts had anticipated. We now expect much of that support to remain in place into mid-year. Middle East tensions continue to trouble markets, which should help keep oil and risk conditions elevated. Meanwhile, US economic indicators are diverging from those of other advanced economies, where data is increasingly underwhelming. All told, this mix leaves us predicting little change for the buck through June, while further out, we now expect more limited greenback depreciation, reflecting the more dollar-positive conditions.

Read our June 2026 FX Forecasts here:

Authors:

Nick Rees, Head of Macro Research

Barry van der Laan, Senior FX Market Strategist

Disclaimer

This information has been prepared by Monex International Markets plc, part of Monex S.A.P.I. de C.V. (“Monex”). The material is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is, or should be considered to be, financial, investment or other advice on which reliance should be placed. No representation or warranty is given as to the accuracy or completeness of this information. All entities in the “Monex” group of companies are regulated for different products and services within the jurisdictions in which they operate. Details of the different entities can be found here. Details of the respective entities’ regulated status and available products and services can then be found on the relevant links to the individual jurisdictions’ website.