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27 Mar 2015
USD stance remains bullish – OCBC Bank
FXStreet (Edinburgh) - Strategist at OCBC Bank Emmanuel Ng believes the prospects for further upside in the greenback are unchanged.
Key Quotes
“Overall, on the structural front, we think the firm dollar narrative remains intact over the medium term”.
“Although the issue of the USD has been addressed by Fed officials (as any self-respecting central bank would in the face of a secularly appreciating currency), note that the slew of rhetoric at/after the FOMC has also demonstrated Fed expectations that the prospect of a stronger dollar is not expected to derail the Fed’s timetable nor prove materially damaging to the US economy (note the frequent usage of the word “transitory”)”.
“However, although this has only served to temper an excessive backlash against the dollar in the near term, it may not prove sufficient to kick start another round of
Key Quotes
“Overall, on the structural front, we think the firm dollar narrative remains intact over the medium term”.
“Although the issue of the USD has been addressed by Fed officials (as any self-respecting central bank would in the face of a secularly appreciating currency), note that the slew of rhetoric at/after the FOMC has also demonstrated Fed expectations that the prospect of a stronger dollar is not expected to derail the Fed’s timetable nor prove materially damaging to the US economy (note the frequent usage of the word “transitory”)”.
“However, although this has only served to temper an excessive backlash against the dollar in the near term, it may not prove sufficient to kick start another round of