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Aug 09 - 09:55 AM

USD: Set To Remain Bid Following NFP Report; Gains To Accelerate On A Break Of 93.437 - MUFG

By eFXdata  —  Aug 09 - 08:31 AM

MUFG Research discusses the USD outlook and adopts a bullish bias in the near-term.

"The stronger US employment report will keep the US dollar bid in the nearterm and encourage speculation again that the Fed could begin QE tapering even earlier," MUFG notes. 

"The next key events for more insight into the Fed’s plans for QE tapering will be the release of the latest FOMC minutes on 18th August followed by Fed Chair Powell’s much anticipated speech at Jackson Hole at the end of this month. US dollar gains would accelerate if the year to date high from April at 93.437 was broken," MUFG adds. 

Source:
MUFG Research/Market Commentary

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