Holiday Mode
The greenback was slightly weaker in Asian session. It looks like the Usd will close this week up for the first time in a month thanks to the Fed aggressive action. London and US markets are closed today for good Friday and this fact should keep trading subdued. The sudden shift in the Usd could be reflective of the change market sentiment toward Feds unorthodox approach to monetary policy and inevitable ECB easing. While being lengthened by the commodity markets sell off. But we don't believe traders should get so bullish on the greenback just yet. The US economy still has plenty of downside risk and we expect the Fed to move closer to 1.00% by mid year. Until this plays out we still see Usd weakness and EurUsd heading higher near term.
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