The US dollar remains under pressure - BBH
|The Global Currency Strategy Team at Brown Brothers Harriman & Co. (BBH) offered their view on the US Dollar, which remained on the back-foot against nearly all of its major counterparts through the mid-European session on Friday and was seen struggling near 3-year lows.
Key quotes:
“The risk of a US government shutdown beginning tomorrow may be providing the latest fuel for the dollar's sell-off. The Dollar Index is set to post its fifth consecutive weekly loss, the longest drop since April-May 2015. The House of Representatives voted to extend the spending authorization for a month (Feb 16), but the Senate is balking. The Democrats in the Senate, whose votes are needed, unlike tax cuts, Many Democrats in the Senate want a deal on the adults that were brought by their families illegally as children.”
“The dollar bears have not only pushed aside the rise in US interest rates but also economic data that suggests the US economy accelerated in Q4 17 (initial estimate will be reported next week).”
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