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Sep 16 - 02:55 PM

USD: The Path Of Least Resistance For The USD Is Higher; EUR/USD Towards 0.97 In 2 Weeks - Credit Suisse

By eFXdata  —  Sep 16 - 01:30 PM

Credit Suisse maintains a bullish bias on the USD, targeting EUR/USD at 0.97 by the end of September.

"Looking at the immediate future, the balance of risk has tilted from concerns about a possible weak US CPI number this week to instead thinking about whether a 100bp Fed rate hike is on the slate for the 21 Sep FOMC. In this circumstance, the near-term path of least resistance for USD is to keep rising, at least until a 100bp Fed rate hike is at least 50% priced in," CS notes. 

"As a result, we see no reason in the short term to change our key calls end-Q3 calls such as EURUSD 0.9700," CS adds. 

Source:
Credit Suisse Research/Market Commentary

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