Back
12 Jun 2013
Flash: USD losses to continue? – Investec
FXstreet.com (Barcelona) - Following the UK jobs release, we have Eurozone industrial output data. Monthly increases of 1.8% and 2.2% in Germany and France respectively should bode well for the EU-wide figure and the market will pay close attention to this release for signs of better growth prospects from the Eurozone.
Elsewhere, the USD came under pressure for most of yesterday afternoon as the market continues to unwind large bets based largely on expectations of Fed tapering. According to Lee McDarby, Corporate Treasury at Investec, “The USD is trading at the lowest levels since February against a basket of G7 currencies and with nothing of note to be released this afternoon, the USD could suffer further losses today.” The US weekly jobless claims and retail sales figures will provide some interest tomorrow but until then, the focus will very much be on the UK and EU releases.
Elsewhere, the USD came under pressure for most of yesterday afternoon as the market continues to unwind large bets based largely on expectations of Fed tapering. According to Lee McDarby, Corporate Treasury at Investec, “The USD is trading at the lowest levels since February against a basket of G7 currencies and with nothing of note to be released this afternoon, the USD could suffer further losses today.” The US weekly jobless claims and retail sales figures will provide some interest tomorrow but until then, the focus will very much be on the UK and EU releases.