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: USD weakness is the theme after the dovish FOMC meeting, most notably in the USD/emerging market currencies that were already trending recently. Elsewhere, the euro is struggling after weak growth data today.