{
  "id": 165186,
  "title": "US Dollar: Q3 uptrend seen intact – TD Securities",
  "url": "https://urgent.news/2026/08/05/us-dollar-q3-uptrend-seen-intact-td-securities",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-05T07:15:40.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/us-dollar-q3-uptrend-seen-intact-td-securities-202608050715"
  },
  "original_language": "en",
  "account": "TD Securities' macro division, spearheaded by Jayati Bharadwaj and her team, maintains that the recent weakness in the US Dollar following the July FOMC is merely a transient retracement within a more extensive Q3 2026 upward trend for the Dollar. They attribute this bullish outlook to hawkish speeches from dissenting Fed members and centrist members gradually adopting a hawkish stance. The team's MRSI model has started to lean more bearish, yet it has not yet signaled a structural downtrend for the Dollar. The team posits that the post-FOMC USD selloff is likely to be short-lived, with the July FOMC seeing three hawkish dissents supporting a potential rate hike. They view the latest USD movement as a temporary pullback rather than the onset of a new USD downtrend, anticipating hawkish pushback from other Fed members to curb further USD weakness. The analysts suggest positioning short out-of-money EUR/USD calls for the summer to capitalize on near-term USD consolidation or a resumption of the USD uptrend. They emphasize that the current move is more akin to a short-term retracement than the formation of a new USD downtrend, and they prefer to wait for sufficient evidence from US data to sway the rest of the Fed committee toward an extended rate hold.",
  "summary": "TD Securities’ macro team, led by Jayati Bharadwaj and colleagues, argues that recent Dollar weakness after the July FOMC is a short-lived retracement within a broader Q3 2026 USD uptrend.",
  "key_points": [
    "TD Securities sees Q3 2026 as a continued uptrend for the US Dollar.",
    "Recent USD weakness post-FOMC is a short-term retracement, not a downtrend.",
    "Analysts recommend short out-of-money EUR/USD calls to profit from USD consolidation."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "FXStreet",
        "title": "US Dollar: Limited downside on softer payrolls – TD Securities",
        "url": "https://urgent.news/2026/08/05/us-dollar-limited-downside-on-softer-payrolls-td-securities",
        "published": "2026-08-05T14:41:33.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}