Dollar starting to look overbought, says TD Securities
As traders finish short covering, there is little to support the market building new longs
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The dollar’s recent upsurge is looking increasingly stretched and it is starting to seem overbought in the short-term against a range of major currencies, say strategists from TD Securities, which topped FX Week’s three-month currency forecast tables.
“At its heart, we continue to think the latest push higher in the dollar represents a large-scale position readjustment,” says Ned Rumpeltin, head of European currency strategy at TD Securities.
He notes the recent
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