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Sep 30 - 10:55 AM

USD: Where To From Here? What Is The Trade? - ANZ

By eFXdata  —  Sep 30 - 09:42 AM

ANZ Research discusses the USD outlook and sees a scope for a moderate USD upside in the near-term before starting to engage in outright long USD exposure. 

"We are in a period of US growth leadership and higher volatility, and so the risk reward is suggesting that the USD can appreciate, but the conviction around the reliability of this signal is only moderate," ANZ notes. 

"While this near term environment will lean against our medium term forecast of modest USD weakness, we remain comfortable that with time (as well as stable growth and some recalibration of growth expectations in China and Europe) the dollar will ultimately revert...The nature of the environment to date has meant that our discretionary trade recommendations have been focussed in relative value crosses, with none expressing USD views. Through the next month we will be more open to ideas that sell currencies in an out-right sense against the USD," ANZ adds. 

Source:
ANZ Research/Market Commentary

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