US Dollar has upside through the end of this year and into the early parts of 2023 – Wells Fargo

The US dollar should remain strong against more currencies; However, the peak may be approaching earlier than initially expected, according to analysts at Wells Fargo. They believe medium-term dollar strength will be most pronounced against emerging market currencies. Key Quotes: “Our short to medium term view on the US dollar is unchanged, and we continue … Read more

GBP/USD slides to three-day low, around 1.2230 area amid modest USD uptick

GBP/USD witness some intraday selling on Tuesday and dropped to a three-day low. Brexit woes, less hawkish BoE expected continued acting as a headwind for sterling. Rising US bond yields revived the USD demand and contributed to the intraday selling. The GBP/USD pair retreated nearly 60 pips from the daily swing high touched during the … Read more

USD/CAD drops to over two-week low, weakens further below mid-1.2800s

USD/CAD continued losing ground for the third straight day and dropped to over a two-week low. Bullish crude oil prices underpinned the loonie and exerted pressure amid subdued USD demand. Reduced bets for aggressive Fed rate hikes, a positive risk tone weighed on the safe-haven buck. The USD/CAD pair follow-through selling for the third successive … Read more

USD/TRY dribbles around 16.50 as Turkish President Erdogan teases wage increase

USD/TRY struggles for clear directions after bouncing off three-week low. Turkish Erdogan signals to review minimum wage to battle inflation. US dollar weakenss, risk-on mood could entertain traders ahead of key data/events. USD/TRY seesaws around 16.50 as traders seek more clues to extend the latest recovery of the Turkish lira (TRY). In doing so, the … Read more

NZD/USD struggles for a firm direction, stuck in a range around 0.6300 mark

NZD/USD struggled to gain any meaningful traction and oscillated in a familiar trading range. The cautious mood acted as a headwind for the risk-sensitive kiwi amid a modest USD uptick. Reduced bets for more aggressive Fed rate hikes might cap the USD and lend some support. The NZD/USD pair extended its sideways price moves for … Read more