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BoJ’s brings ‘Trick or Treat’ to work
The forex space has been waiting some time for a plethora of monetary and policy reasons to once again ignite currency moves. For too long, CBanks no-nonsense, low rate approach had been curtailing currency ranges. The Fed’s end to tapering this week supported the buck as investors focused on a robust U.S labor market and not the potential for higher rates. The RBNZ dovish remarks have the Kiwi underperforming and finally, the BoJ’s overnight actions have again side swiped the market – all three have contribute to an interesting closeout to October. The net result has been a stronger dollar mostly across the ... (full story)