MA activity is likely to prove supportive for sterling and with recent economic data suggesting there is no risk of lower rates any time soon, I think the backdrop remains fairly constructive.
More Quotes from Jeremy Stretch:
The North Korea news is also likely to be positive for the dollar.Jeremy Stretch
The narrowing in the spread between two-year bunds and Treasuries is very important, as the interest-rate spread argument is one of the main arguments driving the dollar. I don't think we will have enough momentum to power aggressively against the euro by the end of the year.
Jeremy Stretch
Since the election was called the yen has performed pretty well and it may well be the case that people are reluctant to chase it higher.
Jeremy Stretch
MA activity has been a key influence on sterling over the recent weeks and months ... and if that's going to be a continuing theme, then that will at least provide a floor for sterling.
Jeremy Stretch
It's a positive background for the yen, and investors are coming back in after a large move yesterday. The economic recovery looks pretty durable and we'll be seeing the end of deflation soon.
Jeremy Stretch
We've seen a very good run in the dollar but it's been the case in the past few weeks that it hasn't been able to make much momentum on the back of what's been pretty good economic data,
Jeremy Stretch
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