Saxo Group Videos

Hardy: Why it's make your mind up time for USD

What's it going to take for the US dollar to break the relatively tight ranges in which it's been trading over the past few days? Saxo Bank's Head of FX Strategy, John Hardy, says it's caught in the cross-fire of two themes, suggestions the next rate hike from the FOMC could be pushed forward still further and its status as a safe haven currency because of its liquid nature.

John looks at a some of the major pairs, notably USDJPY. It's recovered from last Wednesday's "mini-meltdown" and examines the key levels of which to be aware. In EURUSD, he says that 1.28 is a key resistance level and very loud alarm bells would be ringing for the European Central Bank should it top 1.30. Conversely, the 1.25 area "is huge", says John. None of these levels, including those for AUDUSD, look particularly close right now, he says, except outside USDJPY.

02:54 minutes
Tags: america, american, american economy, aud, aud usd, audusd, aussie dollar, australia, dollar, dollar euro, dollar federal reserve, dollar index, dollar outlook, dollar strength, dollar trading, dollar yen, dollars, dollaryen, ecb, ecb euro, ecb policy, eur, euro, euro dollar, euro zone, eurodollar, europe, european, european central bank, european economy, european union, eurozone, eurozone crisis, eurusd, fed, fed tapering, federal, federal reserve, federalreserve, fomc, fomc meeting, fomcmeeting, forex, forex market, forex markets, forex saxo bank, forex trading, japan, japanese yen, liquidity, rate, rate cut, rate rise, rates, rates decision, rates decisions, resistance, resistance levels, safe haven, safe haven currency, saxo bank, saxo tv, saxo tv trading floor, tradingfloor, tradingfloor.com, united states, united states of america, us, us dollar, us economy, us government, usa, usd, usd jpy, usdjpy, usdjpy currency, yen

Switch to