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BoE’s Carney Cannot Pound The Pound
Considering the news flow, which has been generally positive for risk, the forex market remains rather contained. This is nothing new; currency ranges have been controlled and handcuffed by central bank monetary policy for the past 18-months. Until there is a clear distinct break in global interest rates, central banks will continue to play the same tune. Investors lean heavily on guidance. With Ms. Yellen's first house testimony yesterday, the market was looking for any 'chinks in the armor' on the handover from one Fed head to the next -it was a non-event. This morning the spotlight falls on the "old ... (full story)
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