Fundamental Forecast for Dollar: Bullish
- With FX volatility rising to three-year highs, the Dollar’s safe haven status as garnering new attention
- The SNB’s decision to drop the EURCHF cap leveraged volatility and raised expectations of ECB stimulus
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A tumultuous week for the currency market has found the Dollar closing its
fifth consecutive week in the green and well on its way to a record-breaking seventh consecutive month climb.
Yet, whether this benchmark is able to keep pace or tumbles into a
reversal depends heavily on what happens over the next few weeks. Before
the Fed feeds speculation for the timing of its first hike on the 28th,
the ECB will decide this week whether it will lever the Dollar’s appeal
by expanding its own stimulus effort. And, with volatility trending
higher and market shocks (oil plunge, Russia, the SNB) increasing in
frequency; traders’ appetite for havens is raising the Greenback’s
profile once again.
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