Dollar given a reprieve - BBH
|Global Currency Strategy Team at Brown Brothers Harriman & Co. (BBH) is out with their daily 'CurrencyView' report and offered a near-term outlook for the US Dollar, which was trading broadly firmer against the majors as the US returns from holiday.
Key quotes:
“After extending its recent slide yesterday while the US markets were on holiday, the dollar is firmer against all the major currencies and most of the emerging market currencies. There does not seem to be any macroeconomic developments behind the dollar's stabilization, and the gains are quite minor, suggesting a pause in the downtrend rather than a reversal at this juncture. That said the extent and duration of what appears to be little more than a technical adjustment is the key to the near-term outlook.”
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