FXS: Wells Fargo - The near-term outlook favors strength in the U.S. dollar and yen
source: Wells Fargo
"Given the fluid political situation, there is also increased uncertainty regarding continued European Union financing for Greece, uncertainty that will clearly weigh on markets over the near-term. Notwithstanding pockets of resilience on today’s FX trading – the Australian, Canadian and NZ dollars are all steady versus the greenback – market caution is likely to reign in the coming days. The near-term outlook favors strength in the U.S. dollar and yen, and weakness in most other foreign currencies." Nick Bennenbroek, Head of Currency Strategy at Wells Fargo Bank.
