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Jun 26 - 02:55 PM

USD: Consolidation With Upside Risk; NZD, AUD, SEK Most Vulnerable - MUFG

By eFXdata  —  Jun 26 - 01:30 PM

MUFG Research discusses the USD outlook and sees a scope for a consolidation phase with upside risk especially vs NZD, AUD, and SEK.

"Our FX stance is the pattern of FX performance throughout most of June may well continue with risks skewed more to the downside for equities. A correction in equities from here could see the high-beta currencies that have helped up so far underperform – so NZD, AUD and SEK could see greater depreciation than what we have seen so far in June," MUFG notes. 

"The US dollar is set to remain well supported and the FX performance in June suggests the equity consolidation is more a bad sign of what lies ahead," MUFG adds. 

Source:
MUFG Research/Market Commentary

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