USD Rally Not Over Yet; Going Long EUR/JPY After French Elections - BofA Merrill

USD Rally Not Over Yet; Going Long EUR/JPY After French Elections - BofA Merrill

12 March 2017, 12:08
Vasilii Apostolidi
0
75

The USD rally is not over yet, argues Bank of America Merrill Lynch.

"The US data has been very strong, particularly when taking into account the advanced stage of the recovery. Both headline and core US inflation rates are above 2 percent. The Fed is shifting gears, from being concerned about tightening too fast, to avoiding staying too far behind the curve. Strong data, in the US and the rest of the world, and strong global risk sentiment justify the Fed policy shift," BofAML adds. 

Moreover, BofAML likes EUR crosses medium term and recommends going long EUR/JPY after the French elections.

Copy signals, Trade and Earn $ on Forex4you - https://www.share4you.com/en/?affid=0fd9105    

"The Euro has done well against non-USD crosses recently, as Le Pen has fallen behind Macron in the polls, even in the first round in some cases. Our baseline does not include a Le Pen victory and we do like EUR crosses in the medium term, particularly EUR/JPY," BofA argues. 

Share it with friends: