USD rebound likely to run out of momentum – Scotiabank
|USD trades mixed to slightly lower in quiet trade. Shaun Osborne, Chief FX Strategist at Scotiabank, analyzes Greenback’s outlook.
Eyes on NFP
Calendar-wise, it’s a pretty light session and overall focus is on Friday’s Nonfarm Payrolls data.
Beyond month-end today, the USD may consolidate a little more as investors leverage developments to determine whether the USD rebound can extend or, more likely in my opinion, runs out of momentum and resumes its broader decline.
See: USD Index to trade 101.00-102.00 near term – ING
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