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    US Dollar may struggle to extend gains without new impulse – Scotiabank

    Source Fxstreet
    Feb 7, 2024 14:01

    The US Dollar (USD) is tracking a little lower overall on the session. Economists at Scotiabank analyze Greenback’s outlook.

    USD gains overstate spread shift

    The USD will need the support strong economic data and/or higher yields to continue advancing.

    Short-term spreads have moved in the USD’s favour since mid-January but there are signs that USD gains are overstating the improvement in fundamentals.

    Other factors, such as position adjustment, may be helping lift the USD tone – which suggests scope for additional USD is limited unless fresh USD-positive impulses develop

     

    Disclaimer: For information purposes only. Past performance is not indicative of future results.
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