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Week Ahead: FOMC, RBNZ, EUR Temp Resilience, Sell CHF
With weaker US data seeming to comply with the cautious Fed policy message, next week’s USD focus should be directed more towards the national accounts than the FOMC statement itself. While markets seem to have cut some of their USD-longs, there may be few fundamental triggers to reinvigorate the USD rally, however. EUR’s resilience continues despite lingering anxiety about Greece. That said, we see limited scope for a trend reversal higher in EUR/USD without a lasting resolution. Elsewhere, downside pressure on GBP should grow towards the end of the week as traders acknowledge the likelihood of not only a UK ... (full story)