FXStreet (Edinburgh) – The FX Strategy Team at TD Securities, gives its views on the main currencies following the recent EU-Greece deal.
Key Quotes
“As for implications in the currency markets, we think that it will be resumption of some of the major themes that we have articulated since the start of the year”.
“We like EURUSD lower but will likely need for a Fed hike later this year (we still have September as our starting point)”.
“USDJPY popped higher overnight as part of the risk-on in markets following the Greek deal and we think this is vulnerable to a squeeze higher given the safe haven bid observed over the past two weeks”.
“We continue to like GBP, and while it is the only G10 major to outperform versus the USD we prefer to own this currency versus the commodity crosses (GBPCAD remains our preferred cross)”.
(Market News Provided by FXstreet)