29 May 2014
USD expected to recover ground - RBS
FXStreet (Barcelona) - Greg Gibbs, FX Trading Strategist at RBS, sees the greenback performing better in the near term.
Key Quotes
"Significant support levels for the NZD and GBP were broken yesterday after the same occurred with the EUR over a week ago. We see mixed performance in other currencies, including strength in the KRW."
"Low US yields and yield-seeking behaviour may prevent a rapid rebound in the USD. However, we expect it to perform better, as confidence in the US recovery eventually brings into view a Fed rate hike and as the market sees value in the USD that comes from relatively weak levels against many currencies."
Key Quotes
"Significant support levels for the NZD and GBP were broken yesterday after the same occurred with the EUR over a week ago. We see mixed performance in other currencies, including strength in the KRW."
"Low US yields and yield-seeking behaviour may prevent a rapid rebound in the USD. However, we expect it to perform better, as confidence in the US recovery eventually brings into view a Fed rate hike and as the market sees value in the USD that comes from relatively weak levels against many currencies."