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Thomson Reuters
Nov 01 - 11:00 AM
EUR/USD, GBP/USD: Where To Target N-Term Recovery? - TD
First appeared on eFXplus on Nov 01 - 09:07 AM

TD Research discusses EUR/USD, and GBP/USD tactical outlook and sees a further scope for the ongoing recovery to run further near-term.

" The Brexit news also offers the European complex room to rally as well, especially as EUR and GBP trade to modest discounts to cyclical drivers. A key level to watch in the former is 1.15 and 1.30 in the latter.

Besides positioning and the midterms, we note the USD is now trading about a touch over 3% rich to our global factor model. We haven't seen both valuation and positioning leaning this much in one direction since late Q2, increasing the focus on the midterms," TD argues. 

Source:
TD Bank Research/Market Commentary

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