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Jul 27 - 09:55 AM

USD: High Bar To Compel Directional USD Move With At Least 75bps Priced - TD

By eFXdata  —  Jul 27 - 08:45 AM

TD Research discusses the USD outlook around today's FOMC policy meeting.

"We expect the FOMC to follow up June's large 75bp rate increase with a similar move in July. In doing so, the Committee would bring the policy stance to its estimate of neutral. We also look for Chair Powell to retain optionality by leaving the door open to additional 75bp rate increases," TD notes. 

"High bar to compel directional USD move with at least 75bps priced and about halfway there for Sep. Little reason for USD resilience to be undermined either. EUR remains on weak legs but prefer shorts on crosses," TD adds. 

TD Bank Research/Market Commentary


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