USD: Broadly stable USD/G10 crosses today – ING

Analysts at ING suggests that barring USD/JPY (which is vulnerable to positioning squeeze given the extreme speculative short JPY positioning), they expect USD/G10 crosses to remain range bound ahead of President-elect Trump press conference.

Key Quotes

“This should be particularly the case given the absence of FOMC speakers today. The lack of drivers for USD strength today should also translate into general stability in EM FX. Confirmation of lower Russian Dec CPI (a final reading) should reiterate the CBR inflation targeting credibility, and along with the stable oil price, it should continue underpinning RUB.”