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USD remains firm and bid – Danske Bank

FXStreet (Edinburgh) - Jens Pedersen, Senior Analyst at Danske Bank, remarked the positive outlook for the greenback.

Key Quotes

“The USD is holding up well, despite weaker-than-expected August Existing Home Sales”.

“Fed’s William Dudley mentioned in his speech on Monday that he does not share ex-chairman Greenspan’s view that the Fed cannot identify asset bubbles and they have to be on the Fed’s radar”.

“This indicates that the Fed may be giving more weight to asset bubbles and financial stability supporting the USD”.

“Today, focus in the majors will be on September PMI manufacturing data for the euro-zone where we have below consensus forecasts. This should put further pressure on the EUR”.

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