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Aug 23 - 09:55 AM

USD: Hard To Argue Against An Even Stronger USD Coming Months - MUFG

By eFXdata  —  Aug 23 - 08:59 AM

MUFG Research maintains a bullish bias on the USD into year-end.

"The strength of the US dollar was boosted further yesterday by the worsening negative energy price shock in Europe. The negative energy supply developments in Europe contributed to EUR/USD breaking back below parity and falling to a fresh year to date low overnight of 0.9913. Similarly, the pound’s performance against the US dollar remains tightly linked to the euro and saw cable fall to fresh year to date low of 1.1733," MUFG notes. 

"In the current difficult circumstances, it is hard to argue against an even stronger US dollar in the coming months with a dovish Fed pivot looking less likely in the near-term as well," MUFG adds. 

Source:
MUFG Research/Market Commentary

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