USD: To Converge Or To Diverge? What's Next? - TD


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TD FX Strategy Research discusses the USD outlook, noticing that many market participants are wondering whether we are pivoting back to US divergence or just seeing a positioning drawdown.
"We fall in the latter camp and suspect the 2-month rally in the $ is starting to look stretched," TD argues. 
"Data momentum could keep it a bit firmer near-term, but we think the DXY is starting to top out and look to sell into DXY rallies towards 95.0," TD advises.

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