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12 Jul 2013
Flash: USD firms across the board - BBH
FXstreet.com (London) - Brown Brothers Harriman analysts note that the US dollar is firmer across the board.
However, the note that this firming comes within a consolidative phase after sharp losses over the past couple of sessions amid greater uncertainty over the timing of the Fed's exit strategy from its exceptionally easy monetary policy. They write, “It is not clear that the adjustment is over. Bernanke's semi-annual testimony to Congress next week is anxiously awaited, especially given the volatility his comments have injected in recent weeks.”
However, the note that this firming comes within a consolidative phase after sharp losses over the past couple of sessions amid greater uncertainty over the timing of the Fed's exit strategy from its exceptionally easy monetary policy. They write, “It is not clear that the adjustment is over. Bernanke's semi-annual testimony to Congress next week is anxiously awaited, especially given the volatility his comments have injected in recent weeks.”