TD Securities: Post-FOMC Dollar Losses Likely Limited
TD Securities strategists expect the US Dollar's decline after the July FOMC meeting to be contained, citing a lack of hawkish signals from the Fed Chair.
EURUSD
The US Dollar weakened following the July FOMC rate hold. TD Securities strategists note that the currency’s retreat lacked momentum as the central bank’s communication offered no fresh hawkish impetus.
According to the analysts, the limited hawkish tone from the Fed Chair suggests that the greenback’s post-meeting losses will probably stay restrained. Market participants are now looking to upcoming data for clearer direction.
As a result, the dollar is seen consolidating rather than embarking on a sustained downturn.
Source: FXStreet Forex News