No flight to quality for dollar – TD Securities

With US macro and political worries on the front foot, the yen is likely to serve as the risk proxy

Yen strength: TD Securities expects the repatriation of funds back to Japan to sustain the currency


Despite the return of risk aversion during the course of this year, market participants are unlikely to pile into the dollar in a flight to quality, as is often the case when risk sentiment dampens, says Ned Rumpeltin, European head of FX strategy at TD Securities.

While the euro could face some headwinds in the near term, beginning with the outcome of the Italian election and German coalition votes this weekend, Rumpeltin says these are likely to be overshadowed

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