USD stays on a neutral stance – TDS

Strategists at TD Securities have shifted to a neutral stance on the greenback in light of the recent price action.

Key Quotes

“We have reverted to a more neutral USD stance as the "Trump Trade" fades, and global reflation expectations take root more broadly”.

“The USD could rally from here, but this is no longer our base case, and new highs may be hard won”.

“We do not yet expect a weak USD overall, but the window for another phase of strength is starting to close. Look for range trading to prevail against the major G10 pairs”.