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Dollar slips as Fed hawkish pricing peaks, TD Securities says
TD Securities expects near term rate hike expectations to ease in both the US and Europe, even as the labor market remains buoyant.
TD Securities Macro Researchs FX team said softer US payrolls data is only marginally negative for the US dollar, pointing instead to a labor market described as buoyant and not overheating or deteriorating, according to FXStreet.
The firm argued that market pricing for Fed hawkishness has likely peaked, and it expects near term rate hike expectations to ease in both the US and Europe.
FXStreet also noted the dollar retreats from 17 month highs as traders take profits ahead of the US nonfarm payrolls report.
In that backdrop, AUD/USD bounced back toward 0.6950 on fresh USD supply, while USD/JPY struggled for new momentum near 158.0.
Latest closeUSD/JPY 157.40 ▲0.0%