USD: Medium Term Bulls. Still Bullish. US data weakness has continued, driving a USD correction over the past week. A more data dependent Fed could inject volatility into the USD, and a slower pace of hikes may lead to a slower pace of USD appreciation. However, we still expect USD to continue to be the strongest G10 currency. Growth differentials between the US and RoW remain supportive to the US. The ECB made clear that it will continue QE, weighing on EUR, and de facto supporting USD. EUR: Monetary and Political Pressures. Bearish. The latest ECB meeting sent a strong message that it intends to do QE through the ... (full story)