The models are broken
The market is trying to get back to the pre-Covid and pre-war times, but that model is broken. A new dawn is here and the financial world needs to adapt.
Steen Jakobsen,
Chief Investment Officer
Head of FX Strategy
Summary: The US dollar broke down in the wake of the FOMC meeting, but relative to the dovish surprise we got, the move is so far modest. We’ll look to tomorrow’s weekly close for clues. Elsewhere, sterling traders holding collective breath ahead of a critical week ahead.