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Oct 20 - 12:55 PM

USD: 'Peak Yield Hawk'; USD To Remain Supported Ahead Of Next Month FOMC Meeting - BofA

By eFXdata  —  Oct 20 - 10:45 AM

Bank of America Global Research maintains a bullish USD bias into year-end.

"A synchronized sharp rise in global yields on all three historical occasions (Jun-2013, Sep-2019, Jun-2021) were driven by rising US yields amid US bond tapering or tighter US credit (Exhibit 1)," BofA notes. 

"Ahead of the next FOMC meeting in November, where the market anticipates the Fed to announce the start of bond tapering, we expect the USD to be supported and the US to continue to act as the main driver of global FX market," BofA adds. 

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Source:
BofA Global Research

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