• The dollar is likely to benefit from its safe-haven status as long as the repositioning in Italian/eurozone assets endures, says Societe Generale

Market news

30 May 2018

The dollar is likely to benefit from its safe-haven status as long as the repositioning in Italian/eurozone assets endures, says Societe Generale

"The dollar is likely to benefit from its safe-haven status as long as the repositioning in Italian/eurozone assets endures, says Societe Generale. Solid ADP data on U.S. private sector payrolls at 1215 GMT could add to this trend, potentially pushing the DXY dollar index to 96, it says. DXY is at 94.55, down 0.2%. There is no arguing over the safe-haven status of the U.S. dollar in today's troubled political waters. Solid U.S. ADP private sector employment data today...will only reinforce bullish dollar momentum. A WSJ poll forecasts a rise in ADP payrolls of 187,000. EUR/USD rises 0.6% to 1.1611 on Wednesday, in a correction after steep losses the previous day. Against the Japanese yen, the dollar is down 0.1% at 108.65."

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