24 Mar 2015
Credit Agricole: USD sees limited scope for a sustained rebound – eFXnews
FXStreet (Barcelona) - The eFXnews Team shares Credit Agricole’s view that with the market immersed heavily into USD-longs, and Fed rate hike still away, there is limited scope for a sustained USD rebound.
Key Quotes
“Dollar managed to consolidate somewhat as more Fed comments overnight suggested that recent currency appreciation may delay but need not derail Fed tightening.”
“San Francisco Fed’s Williams signalled his preference for a lift off discussion as soon as mid-year whereas Vice Chair Fisher said he expects rates to go up before yearend.”
“Ahead of today’s US February inflation data market is looking for another negative headline print but stable core. Absent significant negative surprises, the dollar could consolidate some more.”
“With markets still running considerable USD-longs and given that there is still some time until the Fed starts hiking rates, however, there may be limited scope for sustained rebound.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“Dollar managed to consolidate somewhat as more Fed comments overnight suggested that recent currency appreciation may delay but need not derail Fed tightening.”
“San Francisco Fed’s Williams signalled his preference for a lift off discussion as soon as mid-year whereas Vice Chair Fisher said he expects rates to go up before yearend.”
“Ahead of today’s US February inflation data market is looking for another negative headline print but stable core. Absent significant negative surprises, the dollar could consolidate some more.”
“With markets still running considerable USD-longs and given that there is still some time until the Fed starts hiking rates, however, there may be limited scope for sustained rebound.”
This content has been provided under specific arrangement with eFXnews.