19 Feb 2015
Credit Agricole: Trading USD post-FOMC Minutes - eFXnews
FXStreet (Barcelona) - The eFXnews Team shares Credit Agricole’s view that USD dips should be bought against JPY and EUR as focus now shifts to Yellen’s testimony next week.
Key Quotes
“Although the minutes decreased expectations of the Fed considering higher rates as soon as mid of this year, it will still depend on incoming data.”
“Accordingly it appears too early to expect further falling central bank rate expectations to the detriment of the USD.”
“On the contrary, as we expect a trend of further improving US growth conditions to stay intact and this is likely to keep monetary policy expectations well supported.”
“As such we remain of the view that USD dips should still be bought, for instance against the JPY and the EUR. Investors’ focus will shift to Yellen’s semi-annual testimony before congress next week.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“Although the minutes decreased expectations of the Fed considering higher rates as soon as mid of this year, it will still depend on incoming data.”
“Accordingly it appears too early to expect further falling central bank rate expectations to the detriment of the USD.”
“On the contrary, as we expect a trend of further improving US growth conditions to stay intact and this is likely to keep monetary policy expectations well supported.”
“As such we remain of the view that USD dips should still be bought, for instance against the JPY and the EUR. Investors’ focus will shift to Yellen’s semi-annual testimony before congress next week.”
This content has been provided under specific arrangement with eFXnews.