Lombard Odier Turns Bullish on Dollar, Cuts Euro Forecast to $1.09

A private bank abandoning a bearish dollar call is a signal about how quickly the macro consensus can flip when growth differentials and Fed-independence worries fade, and the size of the euro forecast cut suggests conviction rather than a tweak. The read-across matters most for European exporters and dollar-funded emerging-market borrowers, since the EM shift stops at neutral rather than turning outright constructive. Whether other houses follow with similar revisions, and whether the growth gap cited here persists, is the open question.