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USD extends its firm tone – Danske Bank

FXStreet (Edinburgh) - Despite yesterday’s correction, the greenback keeps trading in a firm tone, commented Lars Christensen, Chief Analyst at Danske Bank.

Key Quotes

“The USD bullish tone paused on Monday but the trend remains firmly in place”.

“Interestingly, the USD is strengthening without a sharp move higher in US yields”.

“The USD strength correlates with the rally in S&P500 and USTs”.

“As such, the USD is developing characteristics of an asset currency. USD-denominated assets such as equities, bonds and real estate, simply offer higher expected return than most other assets”.

“Hence, the USD will strengthen with or without higher US rates”.

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