USD: Trend Is Your Friend. Bullish. We have revised our USD forecasts higher, expecting a 6% move higher in the Broad USD TWI. Three major policy initiatives as a result of the US election (fiscal stimulus, trade, corporate tax reform) are likely to be USD positive, and we now expect the Fed to hike 6 times by YE18. USD strength will be most pronounced against the low yielders like JPY. Data continues to come in strong and Fed commentary suggests that it is willing to put up with a stronger USD if it’s due to an improving economic outlook (as opposed to earlier in the year). We are watching closely for indications on ... (full story)