FXStreet (Edinburgh) – According to Richard Franulovich, Strategist at Westpac, there still room for the dollar to advance further in the short term.
Key Quotes
“Short term USD Index probably has further to run, if only because momentum is on its side after bouncing off very important technical support levels around 94”.
“But the atmospherics won’t necessarily be appealing next week given the FOMC statement and data risks noted above”.
“Our US data surprise index has further to fall before it hits rock bottom levels too”.
“US debt ceiling risks should come the fore into 3 Nov and if anything USD index looks a short term opportunistic sell into 96 though we remain fundamentally constructive on USD prospects in 2016”.
(Market News Provided by FXstreet)