17 Mar 2015
USD has further room to advance medium-term - SG
FXStreet (Barcelona) - With USD rally taking a breather ahead of FOMC, Alvin Tan of Societe Generale, sees further medium-term bullish potential for the dollar as markets are still not close to price in a June Fed hike.
Key Quotes
“The dollar took a breather as the market prepared for the two-day FOMC meeting starting today. There is also concern in a long-dollar market that the Fed might turn more cautious following the strong dollar trend in recent months. Profit-taking consequently dominated after a poor set of US data releases yesterday.”
“The dollar still has room to advance medium-term in our view, given that the market is still not close to pricing in a Fed June rate hike.”
“Broader risk markets took heart from speculation that the potential removal of the Fed's "patient" terminology does not augur an impatient Fed in terms of the pace of rate hikes.”
Key Quotes
“The dollar took a breather as the market prepared for the two-day FOMC meeting starting today. There is also concern in a long-dollar market that the Fed might turn more cautious following the strong dollar trend in recent months. Profit-taking consequently dominated after a poor set of US data releases yesterday.”
“The dollar still has room to advance medium-term in our view, given that the market is still not close to pricing in a Fed June rate hike.”
“Broader risk markets took heart from speculation that the potential removal of the Fed's "patient" terminology does not augur an impatient Fed in terms of the pace of rate hikes.”