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Dec 03 - 12:55 PM

USD: Fed’s Shifting Stance To Lift USD; Longs To Be Rebuilt Amongst Leveraged Funds - MUFG

By eFXdata  —  Dec 03 - 11:00 AM

MUFG Research discusses the USD outlook and maintains a core bullish bias into year-end.

"The stance of the Fed coupled with higher levels of uncertainty provides good reason to expect further gains for the US dollar into year-end," MUFG notes.

"USD leveraged positioning has been reduced by around one-third in just two weeks which points to scope for a rebuilding of those positions providing scope for EUR/USD to test the 1.1000 level and DXY to breach the 97.000 level," MUFG adds.

Source:
MUFG Research/Market Commentary

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