- February 1, 2022
- Posted by: Stratford Team
- Category: Economy
- USD a sell short-term says strategist
- As USD starts Feb on a soft footing
- GBP/USD recovers back above 1.34
- Beware BoE disappointment Thursday
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The U.S. Dollar could be set for a softer February according to analysts, a view that could afford a move back to 2022 highs for the Pound to Dollar exchange rate.
Heading into 2022 the Dollar was a firm favourite amongst analysts and market participants alike coming off the back of a strong 2021, but it initially fell in the first half of the month before refinding its feet.
Indeed, the final half of January was met with concerted Dollar buying as a net USD long held by the market had now been pared back and investors began buying back into a hawkish Federal Reserve that signalled it could be set to raise interest rates by as many as four times in 2022.
But, for one strategist the Dollar is vulnerable at the start of February.
“To me, this is setting up as a spectacular place to take a…
