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USD keeps the upbeat tone – Danske Bank

FXStreet (Edinburgh) - According to Flemming Nielsen, Senior Analyst at Danske Bank, the bid tone around the greenback remains intact.

Key Quotes

“The theme of a strong USD continues despite softer than expected US retail sales yesterday”.

“Portfolio flows continue to be supportive for the USD both into the equity and US Treasury markets”.

“The opposite is the case in Europe. The GBP could correct further after yesterday’s BoE minutes showed that the central bank is back-tracking on expected interest rate hikes after recent softer data, particularly regarding wage growth”.

“We also expect that the EUR will remain under pressure following today’s euro-zone Q2 preliminary GDP”.

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