23 Oct 2013
Flash: The key driver for USD woes - BBH
FXstreet.com (London) - Research teams at BBH said, “despite the price action today, the impetus behind the weaker dollar theme is still in place”.
“The disappointing US September payrolls data consolidated expectations that tapering this year is unlikely”.
“Although a majority (like ourselves), according to surveys, now expect tapering to begin in March, the risk is that disappointing data, distorted or otherwise, will prompt some to push the tapering even further out in time”.
“In the current environment, the shifting tapering expectations have been the key change and price driver”.
“Until the overnight session, the euro and Swiss franc had risen to new highs for the year to levels not seen since November 2011”.
“The disappointing US September payrolls data consolidated expectations that tapering this year is unlikely”.
“Although a majority (like ourselves), according to surveys, now expect tapering to begin in March, the risk is that disappointing data, distorted or otherwise, will prompt some to push the tapering even further out in time”.
“In the current environment, the shifting tapering expectations have been the key change and price driver”.
“Until the overnight session, the euro and Swiss franc had risen to new highs for the year to levels not seen since November 2011”.