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18 Mar 2015
Buy the dips in USD – Westpac
FXStreet (Edinburgh) - Strategists at Westpac recommend buying the US dollar on occasional dips.
Key Quotes
“Relative global growth conditions and monetary policy divergence continue to conspire in favour of USD strength but we suspect USD may be in for a bout of profit taking in the wake of this week's FOMC meeting”.
“The Fed is set to drop "patient" from their lexicon, but that is now very well discounted and Chair Yellen is likely to go out of her way to stress data dependence and that while a June hike is on the table it is very far from being a done deal”.
“The USD may suffer from some near term profit taking wobbles but would use any dip to accumulate USD longs”.
Key Quotes
“Relative global growth conditions and monetary policy divergence continue to conspire in favour of USD strength but we suspect USD may be in for a bout of profit taking in the wake of this week's FOMC meeting”.
“The Fed is set to drop "patient" from their lexicon, but that is now very well discounted and Chair Yellen is likely to go out of her way to stress data dependence and that while a June hike is on the table it is very far from being a done deal”.
“The USD may suffer from some near term profit taking wobbles but would use any dip to accumulate USD longs”.