USD remains firm backed by rate hike hopes – Danske Bank

Senior Analyst Pernille Henneberg at Danske Bank assessed the current upbeat sentiment around the greenback.

Key Quotes

“The USD rally continued on Friday despite relatively weak US consumer data where both the retail sales control group and the University of Michigan consumer survey came out weaker than expected”.

“However, the market continues to focus on the Fed raising interest rates in December and the case for a December hike was supported by hawkish comments from the Fed member Eric Rosengreen on Friday saying that the market’s pricing of a December hike (currently around 66%) sounds about right and that the FOMC might hike rates faster than the market is pricing in”.

 

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