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Look for Dollar Strength After Better Than Expected Consumer Confidence

Look for Dollar Strength After Better Than Expected Consumer Confidence

2010-03-30 14:19:00
Antonio Sousa, Chief Strategist
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This Tuesday, the Conference Board reported that US Consumer Confidence improved to 51 in March from 46 in the last month, much better than expected. The US dollar was already rallying ahead of the release and I expect the up trend on the USD/JPY to continue until Friday when the Bureau of Labor is likely to announce the U.S. economy gained close to 182 thousand jobs in March. I remain long USD/JPY and EUR/JPY on expectations the Federal Reserve will increase rates before the end of the year. Good luck.

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