FXStreet (Guatemala) – Eric Theoret, CFA, CMT Currency Strategist at Scotiabank noted that the USD has rallied broadly since its recent low on May 15th.
Key Quotes:
“Its near 5% rise driven by a reversal of the recent trend of disappointing data (top chart), with a notable improvement in housing starts/permits, leading indicators, CPI, and Tuesday’s durable goods.”
“Overall, the data have provided for a stabilization in the U.S. growth outlook, with the Atlanta Fed’s GDP now showing a modest improvement in the model forecast for Q2.”
“This stabilization is important to the Fed, reducing fears of downside risk as it seeks to determine the path for policy normalization.”
Eric Theoret, CFA, CMT Currency Strategist at Scotiabank noted that the USD has rallied broadly since its recent low on May 15th.
(Market News Provided by FXstreet)