What are the most expensive G-10 currencies?
Here is their view, courtesy of eFXdata:
TD Research discusses the G10 currencies from the valuation front.
“CAD’s now the most expensive G10 currency, which could pose a challenge if the BoC decides to dial-back its rhetoric in light of yesterday’s Fed meeting. NOK, AUD, and GBP come next, though we note that we still prefer NOK on the regional growth dynamics across Europe,” TD notes.
“The EUR, for its part, trades where it should, leaving it vulnerable to carry funding dynamics, especially if the Fed’s latest actions have helped to marry the reflation and US exceptionalism themes over the months ahead,” TD adds.
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