USD: Positioning Shows A Renewed Short USD Build As Market Attempting To Price In A Biden Presidency - TD

 


TD Research flags a renewed build in USD short positions ahead of the US November Elections. 

"FX markets have remained broadly well contained. That said, we note that our aggregate positioning index has shown a renewed short USD build since the first presidential debate.

With betting markets pricing in greater odds of a blue wave, we think the FX market is now attempting to price in a Biden presidency, which we think will be reflationary," TD notes. 



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