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Six FX Drivers
This is a momentous week. The two largest economies have political transitions, three central banks meet, and Greece's parliament votes on key reforms, which if approved, will avert an immediate crisis. as the beleaguered country is now projected to run out of funds within the fortnight. At the same time, nothing changes. The fiscal cliff in the US is still looming and it will be no clear on Wednesday, the day after the election, how the fiscal cliff will be averted. Despite the relative calm few, if any, really think the European debt crisis has been resolved. Some frame the issue in terms of indecision. Greece has ... (full story)
