By eFXdata — May 05 - 10:00 AM
Societe Generale Research maintains a bullish bias on the USD over the coming months.
"From here, we like buying the dollar against both Asian and European currencies (the former reeling a bit from China’s very weak Caixin PMI data, the latter from the proposal to ween Europe off Russian in the coming months)," SocGen notes.
"Oil-sensitive currencies will be resilient, but another push higher in USD/JPY is likely and in Europe, EUR/USD will probably re-test lows while GBP/USD looks vulnerable...GBP/USD is more in danger of breaking 1.20 than EUR/USD is of breaking parity, in the months ahead," SocGen adds.
Société Générale Research/Market Commentary