Comments (via Bloomberg) from Steven Englander, Standard Chartered's global head of currencies.

  • "The market really wants to sell dollars, but is afraid to sell dollars right now,"

Cites:

  • traders watching for signals that US economic growth is slowing or that China and Europe are picking up
  • Says US dollar likely to weaken over time as the market waits for that signal

For it to head higher:

  • has to be some upward surprise in potential growth
  • and projections of where corporate profits are heading over the medium term
  • "I don't see where those surprises are coming from."