In the dry world of monetary policy something very significant is happening – the US interest cycle looks close to turning and when it does it will be a historic event which could further realign forex levels. Versus a basket of currencies, USD is already at its highest levels since 2010 and has the capability to go higher still. This time it is gaining on good news rather than acting as a safe haven for frightened capital. The press releases relating to the FOMC meeting of the US Federal Reserve were laced with caution and caveats. But basically it noted that the US economy is improving as is the jobs market and ... (full story)