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USD outlook turned to neutral – TDS

FXStreet (Edinburgh) - Strategists at TD Securities have noted the neutral outlook for the US dollar in the near term.

Key Quotes

“The Fed's reaction function now reflects EM risks and Yellen's press conference was particularly dovish with more explicit concern expressed on USD strength”.

“As such, we have turned tactically neutral on the USD and find it more difficult to hold core longs indiscriminately against the G10 complex”.

“Until the Fed strongly signals a rate hike is imminent we think we are in for choppy price action for the next several weeks”.

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