Risk aversion sees odd and garbled FX reaction
The US dollar was broadly weaker coming into today, with EM currencies at least partially – and oddly – immune to a very weak risk appetite backdrop.
Saxo Bank's Head of Forex Strategy John Hardy looks at the TRY market after Thursday's phenomenal political and central bank-related moves.
He also discusses USD direction, the potential Brexit deal, CNY and other emerging market currencies, short-term distractions, and trade wars.
See the webinar calendar and archive here.