Boris and Kathy Forex Weekly – 2-10-2017 – Commodity Dollars
October 1, 2017 10:21 pm
October Could be Challenging for the Dollar By Kathy Lien and Boris Schlossberg http://www.bkforex.comBy all counts September was a strong month for the U.S. dollar. The greenback appreciated more than 2% against the Japanese Yen, over 1% versus the Swiss Franc and Australian dollar and about the same amount against the euro. The only currency that saw meaningful gains against the dollar was sterling, which caught a strong bid after the Bank of England turned hawkish this month. But as we look ahead to October, the greenback’s momentum is fading and the odds of a correction outweigh the chance of continuation. Part of this has to do with the outlook for U.S. data and part of it has to do with the prospect of other central banks tightening policy over the next 2 months. We’ll dissect each of these in future detail but we fear October will not be as kind to the greenback.
October Could be Challenging for the Dollar By Kathy Lien and Boris Schlossberg http://www.bkforex.comBy all counts September was a strong month for the U.S. dollar. The greenback appreciated more than 2% against the Japanese Yen, over 1% versus the Swiss Franc and Australian dollar and about the same amount against the euro. The only currency that saw meaningful gains against the dollar was sterling, which caught a strong bid after the Bank of England turned hawkish this month. But as we look ahead to October, the greenback’s momentum is fading and the odds of a correction outweigh the chance of continuation. Part of this has to do with the outlook for U.S. data and part of it has to do with the prospect of other central banks tightening policy over the next 2 months. We’ll dissect each of these in future detail but we fear October will not be as kind to the greenback.
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