Bank of Nova ScotiaThe dollar will still strengthen against major currencies before the end of the year

Shaun Osborne, chief foreign exchange strategist at Canada's Bank of Nova Scotia, believes that the dollar will still strengthen against major currencies before the end of the year as speculative markets are extremely short of the dollar. We can see that the dollar is well supported, mainly because positions have been heavily tilted, especially towards the euro. The fall of the euro this time will not cause those large positions to be cleaned up. He also said the dollar tends to rebound before the US presidential election, at least since the 1980s