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Strategy Video: How Strong is the US Dollar's Rally?

Strategy Video: How Strong is the US Dollar's Rally?

2014-08-20 21:13:00
John Kicklighter, Chief Strategist
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Talking Points:

• Minutes from the Fed's last policy meeting presented a materially more hawkish tone than expected

• Yields and Dollar responded to the increased rate pressure, but the market's discount is still large

• While pairs like EURUSD can ride on current developments, others like GBPUSD need further encouragement

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After an in-line showing from US CPI and with the market looking ahead to the Jackson Hole Symposium, the dollar's run was expected to cool. Yet, minutes from the Fed's last policy meeting added another log to the bulls' fire with a notably hawkish shift in the group's previous assessment of employment, inflation and proximity to the first rate hike. The fuel this added to the currency's already impressive pace has pushed USDollar to a six-month high and strong-armed a number of key technical breaks amongst the majors. Will this rally maintain the momentum needed to fortify breaks and extend trends from the likes of EURUSD, GBPUSD and USDJPY? We focus on the Dollar's immediate fundamental bearings and its potential through the medium term in today's Strategy Video.

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