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Danske Bank: USD demand presists

USD remains very attractive despite softer than expected US retail sales yesterday, analysts at Danske Bank say. They point that portfolio flows continue to be supportive for the USD both into the equity and US Treasury markets. 

Meanwhile, strategists are sceptic about the European and British currencies. EUR will likely remain under pressure following today’s euro-zone Q2 preliminary GDP, while GBP should correct lower after the yesterday's BOE disappointment. 

US Dollar index is now on its highest level since October 2013.

Chart: Bloomberg

 

 

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