Amundi: Weak employment data will weaken USD yield advantage

According to ChainCatcher, Paresh Upadhyaya, head of fixed income and foreign exchange strategy at Amundi, said weak employment data gives the Fed more room for a sharp cut, which will weaken the dollar's yield advantage. He believes that the market is beginning to consider how weak the U.S. economy will weaken and what this means for the Federal Reserve's monetary policy. Upadhyaya was short of the dollar at the beginning of this year and has been increasing its short position in the U.S. dollar, noting that there is no reason to change its position now.