---
title: "Invesco: The stronger-than-expected US dollar may pose adverse factors for emerging market assets"
type: "News"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/222893521.md"
description: "Invesco Asia-Pacific Global Market Strategist Zhao Yaoting pointed out that a strong US dollar may have adverse effects on emerging market assets. The Federal Reserve's hawkish rate cuts exceeded expectations, and the market reacted significantly to the dot plot forecast, but caution is needed regarding its accuracy. Invesco expects that the easing policy will continue, but it will be more gradual, and the global economy will accelerate next year, with risk assets performing well. However, the rebound in inflation is an uncertain factor, and attention should be paid to the Federal Reserve's monitoring of the labor market and policy impacts"
datetime: "2024-12-20T07:19:05.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/222893521.md)
  - [en](https://longbridge.com/en/news/222893521.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/222893521.md)
---

> 支持的语言: [English](https://longbridge.com/en/news/222893521.md) | [繁體中文](https://longbridge.com/zh-HK/news/222893521.md)


# Invesco: The stronger-than-expected US dollar may pose adverse factors for emerging market assets

According to the Zhitong Finance APP, Zhao Yaoting, Global Market Strategist for Invesco Asia Pacific (excluding Japan), stated that this rate cut is a hawkish cut. On the positive side, this rate cut by the Federal Reserve exceeds the easing cycle of 1995-96, during which the U.S. economy avoided recession and subsequently experienced strong growth. Ultimately, the Federal Reserve's policy will be data-driven, so the bank needs to pay attention to the data to gain insights into the path of monetary policy. Additionally, **Invesco also needs to monitor whether the U.S. dollar will be stronger than expected, as this could particularly pose adverse factors for emerging market assets.**

The Federal Open Market Committee (FOMC) of the Federal Reserve cut rates by 25 basis points as expected. In response, Zhao Yaoting noted that the market clearly reacted instinctively to the unexpected dot plot forecast, but the bank must be aware that **the dot plot can be very inaccurate.** In December 2021, the Federal Reserve's dot plot projected that the rate hikes in 2022 would be less than 100 basis points, but the actual rate hikes exceeded 400 basis points in 2022.

Zhao Yaoting's investment outlook remains unchanged. **Invesco expects that the easing policy will continue, but it will become more gradual,** and the global economy is expected to accelerate again next year. This means that the bank still anticipates that risk assets will perform well next year. Federal Reserve Chairman Jerome Powell mentioned several times in yesterday's meeting the importance of closely monitoring the future developments in the labor market. Although the easing policy is currently being implemented in an orderly manner, the Federal Reserve is clearly very concerned about the state of the labor market.

**"Inflation rebound"** is an uncertainty mentioned by Invesco in its investment outlook, and this situation seems more likely to occur. In particular, if FOMC members anticipate the policy impact of the Trump administration's policies before the data reflects it and take action to cool inflation, this needs to be closely monitored

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