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Aug 12 - 09:55 AM

USD: Dips Will Get Faded; First Fade Level In EUR/USD At 1.1750 - TD

By eFXdata  —  Aug 12 - 08:32 AM

TD Research likes fading rallies in EUR/USD from 1.1750.

"We reckon that dips in the USD will get faded as payrolls matter more for the taper discussion then what is a well-known story of 'transitory' inflation pressures peaking," TD notes. 

"More broadly, the US real rates have diverged from its German peers (thanks Clarida); the last time this happened was in late February and through March, which also saw broad USD strength and a 5 big figure drop in EURUSD. First fade level comes in at 1.1750," TD adds. 

Source:
TD Bank Research/Market Commentary

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