USD Is Likely To Fall Versus EUR, JPY Into September: BofA’s Woo
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
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David Woo (Bank of America Corp)
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UUID: 7947283
(Bloomberg) -- “It’s very likely the dollar will actually lose ground” against the euro and yen in the coming months amid uncertainty over tax overhaul, says David Woo, global head of rates, FX, and EM fixed-income strategy and economics research at Bank of America Corp., says in conference call.
- “The upside for the USD is limited until there is greater clarity on tax reform which will be late September or even October,” Woo says in presentation. “USD bulls should stay on the sidelines until then”
- Recommends reducing long-EM exposure, as any correction in risky assets would hit EM “particularly hard”
- US 10-Year Treasury yield may move downward before a push higher toward 3%
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
People
David Woo (Bank of America Corp)
To de-activate this alert, click here
To modify this alert, click here
UUID: 7947283