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Jun 15 - 02:55 PM

USD: Room For Consolidation N-Term; A 2-3% Rally In USD An Attractive Selling Opportunity If Realized - TD

By eFXdata  —  Jun 15 - 01:30 PM

TD Research discusses the USD outlook and sees a scope for further consolidation in the near-term.

"Risk markets have a little less pep in their step this week, reflecting some shifts in the short-run narrative. We think the bar for a temporary setback remains low, leaving the USD some room to consolidate. For starters, against the G9, it's trading at the same discount on our short-term models witnessed in 2017 in spite of the raft of uncertainty present at the moment," TD notes. 

"A reduction in this discount would benefit the USD by about 2-3%, which we think would an attractive selling opportunity if realized in the weeks ahead," TD adds. 

Source:
TD Bank Research/Market Commentary

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