Published on 11/01/2018 12:16:06 PM | Source: IIFL Ltd
US dollar spiked against Candian Loonie and Mexican peso on speculation that US President Donald Trump - IIFL
US dollar spiked against Candian Loonie and Mexican peso on speculation that US President Donald Trump will exit the North American Free Trade Agreement. However, the greenback remains flat against Euro and Sterling. Overall subdued tone in US dollar against the basket of currencies is quite perplexing given that US growth seems to be picking pace and tax reforms are theoretically deemed to be dollar supportive. With US ten year sovereign bond yields around 10-month high, we sense that a sharp rebound in US dollar is very much on the cards. Needless to mention, Fed is the only central bank which is projected to deliver multiple rate hikes this year, when compared with ECB who is still contemplating on whether to embark on the process of policy normalisation.
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