Greenback on the defensive, but bears, take caution - BTMU

Analysts at Bank of Tokyo Mitsubishi noted that the US dollar remains on the defensive in the near-term with the dollar index testing supporting at the 100.00-level.

Key Quotes:

"The shift in the market’s focus towards President Trump’s more protectionist trade policies and his comments that the US dollar is too strong has dampened its allure.

However if US yields and equities continue to head higher supported by expectations of stronger US growth, it will encourage further US dollar strength."