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 rally has turned into a slow and steady tactical rout, having caught traders the wrong way around after the dovish ECB meeting last week. Next week will be about whether the FOMC triggers any more determined directional view on the dollar.