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USD is on the defensive – Danske Bank

In view of Jakob Ekholdt Christensen, chief analyst at Danske Bank, the USD is on the defensive as markets digested the – after all – rather soft Fed message on Wednesday.

Key Quotes

“As we are moving closer by the day to a shift in US monetary policy, US data will becoming increasingly important for the greenback, as the Fed is set to become increasingly data dependent.”

“Yesterday’s weak Philly Fed extends the recent stream of downbeat US data surprises and today’s US inflation and durable goods data could be decisive in help to set the tone for the USD into New Year.”

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