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16 Jul 2015
USD Index could reach 98.00 near term – Westpac
FXStreet (Edinburgh) - Strategist Richard Franulovich at Westpac sees the US dollar climbing to the 98.00 handle in the upcoming sessions.
Key Quotes
“The latest upleg in the USD from mid-June circa 94.0 remains in good shape”.
“Chair Yellen certainly did no harm and if anything her comments were a shade more hawkish than we have been accustomed too, especially when she noted that, “we now think that the economy can not only tolerate but needs higher rates”, language that has hitherto not been part of her narrative on monetary policy”.
“US data next week not likely to be impactful though a leg lower in the Eurozone PMIs thanks the Greek drama should give the USD an assist. USD index can trade to 98.0 next week”.
Key Quotes
“The latest upleg in the USD from mid-June circa 94.0 remains in good shape”.
“Chair Yellen certainly did no harm and if anything her comments were a shade more hawkish than we have been accustomed too, especially when she noted that, “we now think that the economy can not only tolerate but needs higher rates”, language that has hitherto not been part of her narrative on monetary policy”.
“US data next week not likely to be impactful though a leg lower in the Eurozone PMIs thanks the Greek drama should give the USD an assist. USD index can trade to 98.0 next week”.