EUR/USD, USD/JPY, GBP/USD: What's The Trade This Week? - TD Securities


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TD FX Strategy Research notes that G10FX correlations to the USD have rallied sharply as of late and that leaves G10FX sensitive to the prospects of higher US yields near-term, increasing the scope for a deeper correction in market positioning.
On EUR/USD, TD expects that we could see a bit more near-term downside but likes the risk-reward of adding new exposure with strong support below the 1.16 level.
On USD/JPY, TD argues that it is likely to be the biggest beneficiary of any near-term recovery would look to cut long exposure into 114 ahead of the elections later this month.
On GBP/USD, TD sees two-ways risks following the headlines from last weekend’s Conservative Party Conference.

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