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Sep 17, 2014
The quiet before the FOMC showdown - BMO Capital Markets
FXStreet (Guatemala) - Stephen Gallo, European Head of Currency Strategy at BMO Capital explained the action from the London session that has set us up here in a quiet US session pre FOMC showdown.
Key Quotes
"The USD traded mixed vs. the rest of the G10 space during the London morning, leaving the DXY basically unchanged. Most of the moves in the major pairs largely seemed related to small adjustments ahead of the FOMC."
"The overall impact of the UK releases on the GBP was neutral, but price action suggests a bit more demand for the GBP today in view of the latest polls. The EUR traded firmly ahead of tomorrow’s first TLTRO auction."
Key Quotes
"The USD traded mixed vs. the rest of the G10 space during the London morning, leaving the DXY basically unchanged. Most of the moves in the major pairs largely seemed related to small adjustments ahead of the FOMC."
"The overall impact of the UK releases on the GBP was neutral, but price action suggests a bit more demand for the GBP today in view of the latest polls. The EUR traded firmly ahead of tomorrow’s first TLTRO auction."