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 US dollar is on the defensive after unwinding a period of prior strength. Just ahead of this week’s key FOMC event risk, select EM currencies are making an aggressive statement that the Fed will prove benign.