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- USD remains vulnerable to weaker data and greater market conviction around a Fed pivot – Scotiabank
USD remains vulnerable to weaker data and greater market conviction around a Fed pivot – Scotiabank
The USD is stronger overall. Economists at Scotiabank analyze Greenback’s outlook.
JPY’s stability looks a little curious
The JPY’s stability looks a little curious considering its sensitivity to US yields recently but broader USD (DXY) gains are looking a bit stretched relative to fair value based on short-term spreads alone, suggesting the primary driver of USD appreciation is coming from geo-political/market risk influences.
The USD remains vulnerable to weaker data and greater market conviction around a Fed pivot but weakness is unlikely while risk aversion dominates market thinking.
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