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Stay long on the Dollar – JPMorgan

FXStreet (Barcelona) - The Research Team at J.P.Morgan view that the improving economic momentum in the US relative to rest of the world is supporting further USD strength.

Key Quotes

“Tweak long USD exposure vs. Europe – re-sell EUR/USD in cash, rotate from USD/SEK to USD/NOK."

"Stay short AUD/USD in spot and NZD/USD via a bearish 6-mo risk-reversal and short EUR/CHF through a 1.2088 put, positioned for a further squeeze in volatility."

"Also stay long USD/JPY in cash and though a bullish seagull.”

“The short term corrective phase for the broad USD picture continues to develop but medium term upside risks are intact. While commodity currencies continue to correct, the October highs should maintain the short term downside risks.”

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