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20 Mar 2014
USD to advance against the CAD and JPY - Societe Generale
FXStreet (Barcelona) - Kit Juckes, Global Head of Currency Strategy at Societe Generale, expects the greenback to gather traction vs, the CAD and JPY in the near term.
Key Quotes
"In the near-term, the two G10 currencies the dollar is likely to be strong against are the Canadian dollar, undermined by dovish BOC comments, sensitive to US rates and overvalued".
"And the yen, which will weaken as US rates edge up, particularly if the global risk environment remains broadly positive. I doubt that the move yesterday will see a significant follow-through of risk aversion".
"GBP/USD and EUR/USD on the other hand, will continue essentially to ‘top out', with more significant moves down likely only later in the year when Fed hikes are much closer."
Key Quotes
"In the near-term, the two G10 currencies the dollar is likely to be strong against are the Canadian dollar, undermined by dovish BOC comments, sensitive to US rates and overvalued".
"And the yen, which will weaken as US rates edge up, particularly if the global risk environment remains broadly positive. I doubt that the move yesterday will see a significant follow-through of risk aversion".
"GBP/USD and EUR/USD on the other hand, will continue essentially to ‘top out', with more significant moves down likely only later in the year when Fed hikes are much closer."