JP Morgan still like the US dollar higher
Read full post at forexlive.com
Via a late last week note from analysts at JPM on the USD
The fall for the USD alongside US yields is just a countertrend move in a higher trend. JPM argues that the recent behaviour in rates is largely technical and temporary, citing
- solid domestic economic data,
- says the Federal Reserve should start formally talking about tapering communication in the April minutes
- an announcement of Biden’s next circa $2 tln in fiscal spending later this month
- US vaccination rollout acceleration
to help maintain a US gap with the rest of the world.
Bank recommends remaining long USD vs. currencies where central banks are likely to remain dovish or growth-challenged
- including euro, yen, Swiss franc and GBP