If we were to find one key take-away is that in the current environment – where dollar dynamics are not proving to be the primary driver for the broader FX space – local stories can continue to have a more meaningful FX impact. After all, the dollar appears to have re-aligned with the Fed’s hawkish pricing after having received some confirmation from the Fed Vice-Chairman Richard Clarida that the Bank is well on track to start normalise policy rates. Additionally, doubts about the pace of the US recovery after grim ISM manufacturing and ADP payrolls figures were by and large set aside by a record-high ISM services ... (full story)