USD is on the cusp of turning lower – TDS DollarIndex Fed Banks
The USD declined last week, adding to a string of losses seen over the month of June. Economists at TD Securities analyze the greenbackWe continue to think the USD is on the cusp of turning lower but have a stronger conviction that it will drop later in H2.
In the short term, we need the market to validate our out-of-consensus call that the Fed is done and disinflation is in the works. For now, markets are still pricing in a >70% of a July hike so we need a few data catalysts to price this out in the month ahead.Information on these pages contains forward-looking statements that involve risks and uncertainties.
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