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USD remains firm despite the decline – Danske Bank

FXStreet (Edinburgh) - The underlying strength in the greenback remains intact in spite of the current sell-off, suggested Sverre Holbek, Senior Analyst at Danske Bank.

Key Quotes

“In the global FX markets the USD sold off again yesterday and overnight EUR/USD temporarily rose above 1.2680”.

“Fundamentally, the trend of a stronger USD remains firmly in place, albeit the bounce might not reverse in the short term given the lack of near-term drivers and the very stretched position”.

“Today’s release of the FOMC minutes could provide renewed support to the dollar if the report suggests that the Fed might remove the forward guidance at its meeting on 29 October”.

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