In short, ANZ monthly forex outlookOUTLOOK AND STRATEGY
- The policy had a huge negative impact on the dollar and this is due to the other hand, although the environment in general, suggests that the recovery could be more selective.
- The monetary policy plays a less important role in the support of the us dollar as other central banks change prejudices, and that the strong global growth and low volatility continue to support cyclical currencies.
- We are in favour of being long the USD against low-yielding currencies such as the yen, but think that the environment in general, will put in place a solid floor under the cyclical currencies.
- We prefer buying JPY crosses on dips.