USD – Smile theory or sorry tale? The Global Markets FX Week Ahead Podcast

The US dollar depreciated again this week, with US yields declining and equity markets rebounding – always a bad mix for the dollar. Derek Halpenny, Head of Research, Global Markets EMEA and International Securities discusses the outlook for the currency with Michael Owen, MUFG’s Head of Global Client desk for EMEA in London.

Where is the US dollar on the famous USD Smile theory and will the more favourable financial market conditions persist and weaken the dollar further?

Derek also provides his view on the market impact of the UK fiscal support package announced on Thursday.

Disclaimer: www.mufgresearch.com (PDF)