A quickie via Nomura, looking for a lower USD, their recommendation to sell it against the yen and the EUR (ie long EUR/USD)
- Nomura targets USD/JPY falling to 102, place a stop loss at 111
- The bank targets EUR/USD to 1.20, stop at 1.12
Citing/reasoning:
- many of the supportive dollar factors are fading
- US relative growth outperformance likely behind us
Risk to trades:
- risk for Fed hike expectations to return, would be a positive for the US dollar
