26 Jul 2013
Flash: USD selling to stall on FOMC – BTMU
FXstreet.com (Barcelona) - Derek Halpenny at The Bank of Tokyo-Mitsubishi UFJ, Ltd is looking at the pressure on the dollar.
Key Quotes:
“We are not convinced that this dollar selling on the FOMC next week will last”.
“A Wall St Journal article suggests a hardening of forward guidance language in the statement. All well and good, but ultimately it will be the data that dictates market expectations – admittedly the data has been mixed of late, but we still expect a robust labour market and a pick-up in real GDP growth from the weak Q2 level that will bring back strong demand for the dollar going forward”.
Key Quotes:
“We are not convinced that this dollar selling on the FOMC next week will last”.
“A Wall St Journal article suggests a hardening of forward guidance language in the statement. All well and good, but ultimately it will be the data that dictates market expectations – admittedly the data has been mixed of late, but we still expect a robust labour market and a pick-up in real GDP growth from the weak Q2 level that will bring back strong demand for the dollar going forward”.