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USD expected to pick up pace later in Q4 – Westpac

FXStreet (Edinburgh) - Sean Callow, Strategist at Westpac, sees the greenback gathering traction closer to year-end.

Key Quotes

“Later in Q4, we remain optimistic on the US dollar”.

“Westpac’s base case remains a Fed rate rise in Dec, with key officials such as SF Fed’s Williams noting that with the unemployment rate near 5%, payrolls growth can slacken while still tightening the job market”.

“Dec is also when the ECB will have to review its forecasts, most likely including another downward revision to inflation”.

“The relative growth and yield story should then return to driving sustained USD gains”.

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