BLBG: ‘Keep the Faith’ on Gains by the Dollar Index, Westpac Says
By Daniel Tilles
Jan. 14 (Bloomberg) -- Investors should maintain bets that the Dollar Index will gain on expectations of “further positive growth data in coming weeks,” Westpac Banking Corp. said.
“Keep the faith,” Sean Callow, a senior foreign-exchange strategist in Sydney, wrote today in a report. “Despite the disappointing U.S. December employment data, we retain our bullish first-quarter U.S. view and believe it will translate to Dollar Index gains.” Westpac predicts the measure will increase to 80, Callow said.
The Dollar Index, which tracks the greenback against currencies of six trading partners including the euro, yen and pound, slipped 0.1 percent to 76.761 as of 7:08 a.m. in London.
