Mixed global growth backdrop remains supportive for the USD – MUFG

Economists at MUFG Bank discuss the US Dollar outlook.

Consolidation at these stronger US Dollar levels seems likely

The mixed global growth backdrop remains supportive for the US Dollar at this stage. 

Consolidation at these stronger US Dollar levels seems most likely given the probable declining appetite for position-taking ahead of a key week next week with the US Consumer Price Index (CPI) data and the FOMC and European Central Bank (ECB) meetings.

See: Slower growth everywhere ought to help the Yen – SocGen