11 Apr 2014
USD licking its wounds - BBH
FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman explained that the US dollar is licking its wounds as the week winds down.
Key Quotes:
“It has been a poor week for the greenback, falling against all the major currencies."
"There are been two official impulses. First ECB officials have made it clear while it will explore unorthodox measures, should they be needed, such a decision is not imminent."
"Second, the FOMC minutes helped clarify the forward guidance and that an early hike is unlikely. The implied yield of the December 2015 Eurodollar futures contract has fallen 15 bp this week and is nearly 25 bp below pre-jobs data high point last Friday."
Key Quotes:
“It has been a poor week for the greenback, falling against all the major currencies."
"There are been two official impulses. First ECB officials have made it clear while it will explore unorthodox measures, should they be needed, such a decision is not imminent."
"Second, the FOMC minutes helped clarify the forward guidance and that an early hike is unlikely. The implied yield of the December 2015 Eurodollar futures contract has fallen 15 bp this week and is nearly 25 bp below pre-jobs data high point last Friday."