What is the forecast for the US dollar in reaction to the US elections?
Here is their view, courtesy of eFXdata:
MUFG Research summarizes its expectations for FX market reaction to today’s US elections.
“We continue to believe that Blue Wave would be the worst outcome for the US dollar especially against the Asian, emerging and commodity-related currencies,” MUFG notes.
“In contrast, alternative outcomes including: i) Donald Trump remaining President, ii) a divided Congress, and/or iii) a contested election outcome that drags on for weeks would be more US dollar supportive,” MUFG adds.
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