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Felicia Tan
in
Forex
June 16 18:06

Bank of America is waiting for the US dollar to rise

Changes in the mood of market participants and the technical picture give reason to expect improvement in the dynamics of the American currency.
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Analysts of Bank of America believe that the correction of the dollar, which was outlined in recent days, may receive further development, at least in the short term. The bank notes that the signals from the Fed have cooled down the key optimism, and now that active monetary and fiscal stimulus, news about the progress in the development of the vaccine and the opening of the economies for the most part already taken into account in prices, investors are likely to take a pause to make sure that their hopes for improvement are justified.
Analysts also point to the bias in short positions in the dollar against the currencies of emerging markets and a favorable technical picture - the Bloomberg index is oversold and its stabilization near the trend line around 1200 points is a positive signal for the bulls.