Barclays' trade of the week: Long USD against GBP, JPY, NOK basket
A Sunday note from Barclays with a recommendation for forex:
- We recommend being long USD versus a basket of GBP, NOK, and JPY.
- The potential passage of the US tax bill this week could provide support to the USD into Christmas and holiday seasonality suggests USD appreciation versus these currencies (index ref: 100: target. 103; stop loss: 98.5; GBPUSD: 1.3313. USDNOK: 8.3925, USDJPY: 112.68).
- This trade recommendation is valid from the Wellington open Monday morning to the New York close Friday.
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