Scotiabank: Market balance leans towards dollar rebound
Eric Theoret, foreign exchange strategist at National Bank of Canada, pointed out that Powell's remarks did not reach the "dovish level originally expected by the market." He said that optimistic economic data on Thursday combined with the heavy selling pressure on the dollar at the beginning of the week is enough to push the dollar higher. "The market's balance was already heavily tilted in one direction, so it would take significant momentum to push the dollar lower from its current level," Theoret said.
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