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- USD: Risk reversals turn less supportive – Scotiabank
USD: Risk reversals turn less supportive – Scotiabank
US Dollar rebounds to start the week as risk rally fades. Nonetheless, economists at Scotiabank note that USD risk reversals reflect a clear weakening in broader USD bull sentiment.
Further gains in US equity markets to weigh on the broader USD tone
“We note that USD risk reversals reflect a clear weakening in broader USD bull sentiment – a view we concur with, given the USD’s overextended gains.”
“The USD may find itself a bit more susceptible to soft economic data in the near-term at least and may struggle to improve materially, even if policymakers maintain a hawkish outlook for rates.”
“Further gains in US equity markets are liable to weigh on the broader USD tone.”
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