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USD keeps the bullish stance long term – BAML

FXStreet (Edinburgh) - Analyst Ian Gordon at BAML noted the positive prospects for the greenback in the longer run.

Key Quotes

“Longer-term we continue to expect policy divergence and US growth outperformance to underpin the USD, but do see risks of a near-term correction as USD strength weighs on corporate earnings”.

“We maintain our EUR/USD forecasts at 1.00 for year-end 2015 and 2016 while leaving USD/JPY unchanged at 123 over the same periods”.

“We do not make any changes in Europe FX as well, although markets will remain skittish as a potentially inconclusive UK election arrives. In the dollar bloc, AUD and NZD are unchanged but we lower USD/CAD to 1.27 for year-end 2015”.

“Core inflation remains low but has stabilized in recent months reducing it as a potential risk factor”.

“However, with Fed officials already hedging the potential for a June hike, a failure of US data to accelerate post-winter will only push rate hike expectations out further pressuring still sizeable dollar longs”.

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