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Nov 05 - 12:55 PM

USD: Set To Record Fresh Year To Date Highs In The Week Ahead - MUFG

By eFXdata  —  Nov 05 - 11:30 AM

MUFG Research maintains a bullish USD bias over the coming weeks.

'It has been a good week for the USD. It has benefitted from the scaling back of rate hike expectations outside of the US in other G10 markets. The RBA, ECB and BoE have all pushed back against higher rates over the past week. At the same time the Fed has finally outlined plans to start tapering QE later this month and is on course to begin raising rates during the 2H 2022. Fed rate hike expectations have not been as excessive as elsewhere," MUFG notes.

"Renewed upward momentum for the USD has been encouraged as well by building evidence of a pick-up in US growth momentum as COVID cases have fallen back since the recent peak in September. The USD is set to record fresh year to date highs in the week ahead," MUFG adds. 

Source:
MUFG Research/Market Commentary

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