BBVA wins with upbeat dollar view

But USD will not rally before a meaningful rise in treasury yields

forecasts

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Banco Bilbao Vizcaya Argentaria (BBVA) topped last week's one-month currency charts after anticipating the US dollar would rise moderately against other major currencies on the back of better-than-expected economic data.

Peter Frank, global head of G10 & Asian FX strategist at BBVA, says the market was wrong-footed in its expectations regarding upcoming data from the US and the eurozone.

"Our general view was the US dollar would outperform the major currencies

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