29 Oct 2013
Flash: Headwinds to continue for the dollar - BBH
FXstreet.com (London) - Research teams at BBH said with the FOMC meeting looming ahead tomorrow, "we think that headwinds on the dollar will continue".
Key Quotes:
“As such, this week’s modest dollar gains are seen as consolidative in nature. Deeper euro losses are needed to signal that this is more than a corrective move in the dollar, as there is very little reason to expect Fed tapering anytime soon”.
“Sterling is underperforming after twice being unable to surmount the $1.6260 area this month. As a result, EUR/GBP continues to march higher and appears ready to test the .8600 area and then perhaps the late August high near 0.8650”.
Key Quotes:
“As such, this week’s modest dollar gains are seen as consolidative in nature. Deeper euro losses are needed to signal that this is more than a corrective move in the dollar, as there is very little reason to expect Fed tapering anytime soon”.
“Sterling is underperforming after twice being unable to surmount the $1.6260 area this month. As a result, EUR/GBP continues to march higher and appears ready to test the .8600 area and then perhaps the late August high near 0.8650”.