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Jun 21 - 06:55 PM

USD: Staying Core Bullish USD But Not Expecting Strength Across The Board - BofA

By eFXdata  —  Jun 21 - 03:00 PM

Bank of America Global Research discusses its USD outlook through the year-end.

"Although we remain constructive on the USD post-FOMC, we would also urge for caution as we still see too many moving parts. We would not expect the USD path to be smooth," BofA notes. 

"We don’t necessarily expect the USD to rally across the board. This would depend on risk sentiment. Assuming a slow Fed policy normalization, and during a strong global recovery from the pandemic, we would expect risk assets to remain supported, which in turn means high beta currencies should continue doing well. Our main call remains for USD strength during Fed policy normalization, but against currencies of central banks that will not be normalizing monetary policies any time soon, including EUR, CHF and JPY," BofA adds. 

Source:
BofA Global Research

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