MT5-
Quotes from Standard Chartered:
After being caught between the two polarities of weak data and the policy response for the last few months, risk assets have finally broken out to the upside, supported by ECB and Federal Reserve policy expectations. This has particularly supported European currencies, while China-related currencies in G10 and EM have been mixed at best, causing substantial moves on the crosses.
Going forward, central bank reserve activity and data will be as important as - if not more important than - policy decisions per se in sustaining the rally in higher-beta currencies. Indeed, near-term, the USD looks set for a corrective rebound, before increasing data stabilisation provides a stronger and more sustained foundation for risk assets - funded out of the USD - in Q4.
Published: 2012-09-13 14:19:00 UTC+00 7 hours, 59 min. ago
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