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USD set to extend its rally – Danske Bank

FXStreet (Edinburgh) - Senior Analyst at Danske Bank Jens Pedersen sees potential for further strength in the greenback.

Key Quotes

USD gained substantially overnight and EUR/USD trades 0.7% lower this morning at 1.2860 following the Fed meeting last night, where the FOMC members’ projections for the Fed funds rate were moved higher”.

“The end-2017 projection shows a median projection of 3.75%. That's at least 100bp higher than market pricing, supporting the case for a further rally in the dollar as the US money market sooner or later will have to re-price the future path for the Fed funds rate”.

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