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22 Jun 2015
USD upside expected to continue in H2 – BTMU
FXStreet (Edinburgh) - Currency Analyst at BTMU Lee Hardman believes the greenback will gather traction during the second half of the current year.
Key Quotes
“The lack of catalyst for renewed US dollar upside is also likely encouraging a further paring of speculative US dollar positions in the near-term”.
“As highlighted above euro and yen speculative short positions against the US dollar had already been cut back sharply ahead of last week’s FOMC meeting”.
“We continue to believe that the US dollar will regain upward momentum in the second half of this year as the Fed moves closer to raising rates”.
“However, trading conditions in the near-term remain challenging as the Fed is not yet confident enough to raise rates”.
“The recent improvement in US economic data is not yet strong enough and has not been sustained for long enough to provide more material support for the US dollar”.
Key Quotes
“The lack of catalyst for renewed US dollar upside is also likely encouraging a further paring of speculative US dollar positions in the near-term”.
“As highlighted above euro and yen speculative short positions against the US dollar had already been cut back sharply ahead of last week’s FOMC meeting”.
“We continue to believe that the US dollar will regain upward momentum in the second half of this year as the Fed moves closer to raising rates”.
“However, trading conditions in the near-term remain challenging as the Fed is not yet confident enough to raise rates”.
“The recent improvement in US economic data is not yet strong enough and has not been sustained for long enough to provide more material support for the US dollar”.