US rates are helping the Dollar, while we wait for a new market theme to emerge, Kit Juckes, Chief Global FX Strategist at Société Générale, reports.
The Dollar is rising with US rates again
“Absent a genuinely new driver, we have seen strong US data push up pricing of terminal Fed Funds and the dollar has reverted to rising in sync with real rates. Reviving an old relationship is fine for a while, but can only take the Dollar so far. We're still looking for a new story.”
“Current pricing looks for two or three 25 bps hikes by September, and it may take a bigger inflation scare than we saw in this week's CPI data, or another very strong labour market report at the start of March, to push them higher. Absent that, we will probably get stuck in a range again, before the next move (which we'd guess is more likely to be towards Dollar softness as growth resumes elsewhere).”
면책 조항: 본 게시글에 표현된 견해는 전적으로 작성자의 견해이며 Followme의 공식 입장을 대변하지 않습니다. Followme는 제공된 정보의 정확성, 완전성 또는 신뢰성에 대해 책임을 지지 않으며, 서면으로 명시적으로 언급되지 않는 한 해당 내용을 기반으로 취해진 어떠한 조치에 대해서도 책임을 지지 않습니다.
더 오래된 의견은 없습니다. 소파를 가장 먼저 잡으십시오.