New month, same bearish trend in USD – BBH

By FXStreet Analysts at Brown Brothers Harriman explained that the start of the new month does not mean a new trend.

Key Quotes:

“The technical tone of the dollar is weak.”

“Although the US reports the April jobs data on May 6, we do not hold out much hope that even a robust report, will end the dollar’s downdraft.”

“The Federal Reserve acknowledges the continued improvement in the labor market. The problem is that it has not translated to stronger consumption, and business investment remains soft. Fed officials need more confidence that the six-month economic soft patch has ended. The early readings on April suggest a mixed start to Q2.”
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Source:: FX Street