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: Risk sentiment has managed to maintain an even keel on the latest US-China trade news and through today’s US economic data. This has seen a broadly firm US dollar, together with firmness in oil-related currencies like NOK and CAD. On the weak side, GBP and AUD continue to suck wind.