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May 10 - 10:55 AM

USD: 2022: USD Tends To Gain On Thursday And Fridays, Retraces On Wednesdays - BofA

By eFXdata  —  May 10 - 09:30 AM

Bank of America Global Research discusses the seasonality trade for the USD in 2022.

"In 2022, the USD is still advancing on Mondays, but even more so at end of the week on Thursdays and Fridays. Cumulative USD return for Thursdays and Fridays are respectively 1.9% and 2.2% in 2022," BofA notes.

"To the contrary, retracement for the year-to-date USD rally has occurred more on Wednesday, with larger USD retracements during the FOMC Wednesdays. Investors are likely "selling-the fact" on FOMC meetings days, but quickly re-engage with the risk-off USD demand as uncertainty remains elevated," BofA adds. 

Source:
BofA Global Research

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