USD seen supported by Fedspeak, trade – Danske Bank

The greenback could see some renewed upside momentum later in the week, according to Senior Analyst at Danske Bank Mikael Milhoj.

Key Quotes

“The week ahead in FX markets is set to be focused on data, central bankers and politicians alike. For the majors, there will be a stream of US data out, with the USD set to be focused on the possible loss of momentum in US figures”.

“While this could weigh a tad on the greenback, we deem that USD weakness is fading for now as we expect the batch of Fed speakers this week to confirm the Fed’s hiking course and President Trump to step up trade rhetoric against China again”.