The U. s. dollar continues to be the currency of choice for many investors. What is the short-term bias for the usd?
Here is their view, courtesy of eFXdata:
The TD bank Research, maintains a bullish on the dollar over the next few weeks.
“Our baseline scenario assumes anything that looks like a Veven if some of the data starts to print, it is better than expected. Risk assets loved Friday’s nfp report, but we believe that the markets have pulled the wrong signals from the relaxation or the lock, and a few first readings of data,” TD notes.
“The result has been to expect a resumption of the USD, as we believe that the Fed will reduce the flow of oxygen to the IT history. Federal reserve officials this week will likely minimize the immediate need for IT in favor of other tools such as YCC. All of these factors should work against the sense of risk, leaving an overvaluation of risk assets are vulnerable,” TD adds.
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