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CURRENCIES: National Bank/Forex, 2nd of 3; USD

· 02/05/2021 09:33

02:29 PM EST, 02/05/2021 (MT Newswires) -- National Bank in highlights to its Forex note for February 2021 said the broad USD index has started the year firmer, but added its recovery, however, is "still modest and narrowly based." It, the bank noted, has strengthened against the currencies of advanced economies, but not against those of emerging economies, which are rebounding strongly. National sees some upside to the USD in the coming weeks on the back of rising volatility in financial markets and a reduction in record speculative short positions against the U.S. currency. After that, the bank expects another bout of weakness as quantitative easing is ramped up to accommodate Washington's new large fiscal stimulus.

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