The U.S. labor market continues to tighten and the implication is the Fed will need to raise rates. Anything above 250,000 jobs today and the dollar will continue to push higher.
More Quotes from Gavin Friend:
At present there is a probability of just under 70 percent of the Fed raising interest rates to 5.0 percent by May.Gavin Friend
There is a risk today (Thursday) of eurodollar trading weaker and of a test of the resistance area around 1.22001.2170 dollars, particularly if the US data is better than expected.
Gavin Friend
The U.K. economy will probably perform under trend again next year. The pound will fall early next year.
Gavin Friend
Most of us expect him to reiterate the Fed's commitment to fighting inflation and as long as he does that the dollar should hold up relatively well. This could be the trigger for the next move higher in the dollar.
Gavin Friend
The hike... was in line with expectations, but by raising inflation and growth forecasts for 20062007, the window of opportunity for further rate hikes remains open.
Gavin Friend
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