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BofA Flag Q2 Headwinds For Greenback, GBP Is Preferred Expression

FOREX

Bank of America write “the USD has for now capitalized on a favourable mix of inflation/growth but economies do not move in straight lines and a lot of good news has come from the U.S. economy.”

  • “We and consensus are close to current levels in terms of Q1 forecasts. Q2 will probably be another story as the ability of the US economy to continue to deliver positive surprises wanes, lending support to the rest of G10 through to the end of the year.”
  • “Our favoured expression is long GBP into a seasonally friendly environment and the potential for favourable fiscal stimulus tailwinds.”
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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