USD bullishness remains unaltered – BTMU

FXStreet (Edinburgh) - Lee Hardman, Currency Analyst at BTMU, suggested the upside trend in the greenback remains unchanged despite the Fed’s tone yesterday.

Key Quotes

“We continue to believe that the stronger US dollar trend will remain place after yesterday’s FOMC meeting”.

“Initial exaggerated US dollar weakness overnight is likely to prove short-lived”.

“The market was already pricing in very gradual monetary tightening from the Fed prior to yesterday’s FOMC meeting”.

“A more gradual pace of tightening may at best help to ease the pace of further US dollar gains although that could even prove optimistic”.

“Negative developments overseas which are out of control of the Fed remain the main driver of a stronger US dollar in our view”.