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USD: At A Tactical Turning Point - HSBC
The USD is at a critical short-term juncture with the DXY index slipping back close to the lows seen in mid-March, notes HSBC. "The USD’s potential tipping point is echoed in the US Treasury market where 10Y yields have been ranging between 2.60-2.80% for the last three months, but are at the bottom end right now. A break out of this range could prompt a lurch weaker in the USD, sufficient to take out 1.4000 on EUR-USD," HSBC argues. "However, we expect the range trading environment to persist with the USD likely to capitalise on a bounce in US data from weather-related weakness," HSBC projects. And what about the ... (full story)
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