TD say the USD index is around 15% overvalued

  • Says thought that as "the source of global credit" the US dollar will still benefit from bouts of risk aversion

On eur:

  • market perceptions on the currency are changing

Positives for EUR are are

  • euro zone management strategy of the virus
  • mobility data signal of improving growth prospects
  • Leaders' approval ratings
  • a rule-compliant citizenry

On the US:

  • U.S. states look fragmented on political lines

TD recommend buy EUR/USD dips toward 1.11

  • projection is 1.20 next year