USD to remain generally strong for now – Scotiabank

Market news

17 August 2023

USD to remain generally strong for now – Scotiabank

USD mixed in thin, choppy trade but yields provide support, economists at Scotiabank report.

USD supported by rising yields

Higher term yields are working in the USD’s favour, with the 10Y Treasury settling at 4.25% (a new closing high) on Wednesday.

So far today, the USD is trading mixed to marginally lower overall but the US Dollar Index (DXY) is trading above its 200-DMA for the first time in a while which rather tilts risks towards the USD remaining generally strong for now.

GBP/USD: Potential double bottom would be triggered by gains through 1.2810 – Scotiabank

EUR/JPY Price Analysis: Some consolidation likely ahead of further gains

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