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 USD rally has stumbled a bit today on a mixed US jobs report, but JPY strength has been more consistent in recent sessions, accelerated by the ECB’s dovish surprise yesterday and weak equity markets.