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Nov 24 - 09:55 AM

USD: Expect Some Profit Taking On USD Longs Into Long Holiday Weekend - Credit Agricole

By eFXdata  —  Nov 24 - 09:30 AM

Credit Agricole CIB Research discusses its expectations for today's FOMC minutes.

"With regards to the Fed’s tolerance to high inflation developments, the November FOMC minutes are unlikely to bring any fresh clues, while several members already stressed the need to discuss a faster pace of tapering," CACIB notes. 

"In any case, with money markets already pricing in a mid-2022 rate hike, the USD may struggle to extend its rally, while profit-taking after an already impressive monthly performance could beckon ahead of a long holiday weekend," CACIB adds. 

Source:
Crédit Agricole Research/Market Commentary

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