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Aug 05 - 02:55 PM

USD: Set To Rebound As Expectations For Fed Policy Pivot Prove Premature; Long USD/CAD - MUFG

By eFXdata  —  Aug 05 - 02:00 PM

MUFG Research discusses the USD outlook and sees a scope for further rebound over the coming weeks.

"We are maintaining our bullish outlook for the USD in the nearterm. Market expectations for dovish pivot by the Fed have been premature which supports our view that the recent correction lower for the USD should prove temporary," MUFG notes.

"To express our view for further USD upside, we are re-establishing a long USD/CAD trade idea in anticipation that the pair will break back above the 1.3000-level," MUFG adds.

Source:
MUFG Research/Market Commentary

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