The report from Brown Brothers Harriman (BBH) indicates that the USD is trading firmly against most major currencies, with Treasury yields ticking up. In the near term, the USD has room to retrace some of its recent losses as the Fed is not in a rush to ease policy.
The report from Brown Brothers Harriman indicates that the USD is trading firmly against most major currencies, with Treasury yields ticking up. In the near term, the USD has room to retrace some of its recent losses as the Fed is not in a rush to ease policy.
However, a USD bounce is viewed as a sell-the-rally opportunity due to ongoing structural drags on the currency.USD shows signs of short-term recovery'In the near-term, USD has room to retrace some of its recent losses because the Fed is in no rush to resume easing and risk cutting rates less than is currently priced in . However, a USD bounce would be a sell-the-rally opportunity.''The Fed still has more easing in the pipeline while most other major central banks are done cutting or started to raise rates . USD also faces important structural drags - fading confidence in US trade and security policy, politicization of the Fed, and worsening US fiscal credibility.'
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