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Forex Flash: Fed dreams, markets stir - Societe Generale

Kit Juckes of Societe Generale comments that when the Fed dreams about one day exiting QE, the rest of the market has to wake up and think about what it will mean.

He sees that the market reaction was to sell equities far more than to sell Treasuries and with yields still in a range, “it serves as a reminder that while we are supposed to contemplate the day the Fed changes tack, we aren't supposed to overreact.” He personally suspects that equities will settle into a range too, following a very strong start to the year.

Forex Flash: BoE MPC much closer to stimulus than suspected - BTMU

Lee Hardman FX Analyst at the Bank of Tokyo Mitsubishi UFJ notes that the release of the more dovish than expected BoE minutes yesterday resulted in the pound’s recent sell off accelerating further providing another offset to the negative impact of the Fed’s QE3 programme upon the US dollar, with GBP/USD haven fallen sharply to close to 1.50 from 1.60 over the past month.
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UK Feb CBI Industrial Trends Survey - Orders (MoM): -14 vs -20 (Jan)

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