Some thoughts on the USD from Credit Agricole (this via Bloomberg)

US dollar selling being driven mainly by concerns surrounding the protectionist stance adopted by the U.S.

  • duties on imported solar panels and washing machines could weigh on global trade, growth, and possibly start a trade war

Selling magnified ahead of Trump speech in Davos

Also concern about early end to easing by the ECB

  • European economic data continues to be solid
  • Minutes show hawkishness

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While CA don't specifically ask, it seems to me there are two points at which the USD could well show a bit of life:

  1. After Trump's speech
  2. After the ECB

Thoughts welcome!