The outlook for the Fed policy is clearly data dependent. I cannot see much downward correction to the U.S. dollar over the near term being driven by the data.
More Quotes from John Kyriakopoulos:
The news on the Australian economy has been far from upbeat. A benign consumer price index report will make the likelihood of another RBA rate hike disappear completely and this will potentially weigh on the Australian dollar.John Kyriakopoulos
Perceptions that Japanese interest rates would not be rising much appeared to reverse earlier concerns about an end to carry trades, which supported the Australian dollar.
John Kyriakopoulos
The price action of the last few days does suggest a potential exhaustion in the dollar's rally,
John Kyriakopoulos
While commodity prices have been rising Australia's interest rate spread has been narrowing.
John Kyriakopoulos
U.S. economic reports serve to remind investors that U.S. economic growth remains solid, and as long as this continues, writing the U.S. dollar off could prove a costly strategy.
John Kyriakopoulos
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