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Mar 12 - 09:55 AM

USD: A More Dovish FOMC May Weight On USD Next Week; Dips A Buy Vs JPY, CHF N-Term - Credit Agricole

By eFXdata  —  Mar 12 - 08:43 AM

Credit Agricole CIB Research discusses its expectations for next week's FOMC policy meeting and likes buying the USD on dips against CHF and JPY in the near-term.

"We think the FOMC will maintain its cautious inflation outlook even as it presents its upgraded economic projections. Moreover, we believe that the updated Fed dot-plot would largely reaffirm the view that policy rates will remain at their current low levels in the coming years... A more dovish-than-expected outcome from the Fed meeting can boost risk sentiment and weigh on the USD vs risk-correlated and commodity currencies," CACIB notes. 

"That said, we continue to see the USD as a buy on dips vs the JPY and CHF, especially if the incoming US data surprises to the upside in the near term," CACIB adds. 

Source:
Crédit Agricole Research/Market Commentary

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