Today, we have higher yields, mixed equities, and a stronger Dollar. However, Kit Juckes, Chief Global FX Strategist at Société Générale, expects the Australian Dollar, the Japanese Yen and the New Zealand Dollar to remain resilient if this week’s data do not provide major surprises.
Even GBP may hold up reasonably well
“If the week’s data throw out no major scares, the benign view of the outlook will gain popularity and the worst G10 currencies of the last three months, AUD, NZD and JPY, are likely to maintain their rehabilitation.”
“Even GBP may hold up reasonably well in the face of tighter fiscal policy, still-rising inflation and growth fears, simply because the consensus view of the economic outlook is already so dire.”
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