USD expected to resume the upside – Danske Bank

Chief Analyst at Danske Bank Allan von Mehren sees the downside momentum in the greenback to run out of steam in the near term.

Key Quotes

“In our view, the US jobs report released on Friday should be interpreted as slightly hawkish by the market as only the employment figure was softer than expected”.

“All other indicators in the report were strong with last month’s employment growth revised up and wage growth higher”.

“A slightly stronger USD is the right market reaction in our view. We therefore expect the broad weakness we have seen in the USD after the FOMC minutes to end here”.