The US Dollar (USD) trades directionless on Thursday in light trade. Shaun Osborne, Chief FX Strategist at Scotiabank, analyzes Greenback’s outlook.
I do not think the USD will fall too far at the moment and dips remain a buying opportunity against the core majors.
Higher US yields, seasonal trends and longer-term technical pointers are aligned in pointing to USD strength in the next few weeks at least.
See: USD Index to trade in a 103.00-104.00 range in the near term – ING