Friday, January 26, 2018

FW: [Maybank] USD – Pause or More Room for Weakness?

 

 

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GBL: USD – Pause or More Room for Weakness?

FX Insight
by Saktiandi Supaat

FX Research

DXT traded below 89-handle, for the first time in more than 3 years yesterday. The move lower in the USD was already underway but comments from Treasury Secretary Mnuchin added fuel to fire. He said "a weaker USD is good" for US economy via trade and opportunities. However Trump's subsequent comments overnight (25 Jan) - "Dollar is going to get stronger and stronger" saw a rebound in the USD. That said we believe broader term shifts are underpinning USD downtrend. We also shared DXY forecast...

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