The End Game has arrived
Shocks from covid and the war in Ukraine have forced the global financial and political world to change, but what will the end game be?
Summary: The US dollar is strong and the current dynamics driving USD liquidity issues would likely continue to drive an ever stronger exchange rate. But at some point, we are likely to see a dramatic policy pivot that could reverse the strength and prove the beginning of a long weakening process. John discusses this and several other FX market themes in this extensive update.