BMO on a supportive factor for the US dollar, despite a fiscal imbalance that is "out of control."

  • fiscal fundamental is the more important fundamental
  • but we acknowledge that the energy independence fundamental could offset it for several years
  • thereby prevent the fiscal factor from denting the dollar

So, BMO citing energy-independent US:

  • country not vulnerable to a supply shock
  • Energy independence "has to be a positive factor for the USD"

BMO also recognise the Fed share of credit for the USD gains in 2018.

BMO on a supportive factor for the US dollar, despite a fiscalimbalance that is out of control.