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EUR’s Noose Tightens
It's not a surprise to the forex landscape that market movement remains somewhat beholding to Central Bank rate announcements, and less so to geopolitical and fundamental risks. This week we still have two of the biggest Central Banks to report - ECB and BoE. What is currently happening in the forex space has been the traditional setup for the past 18-months. The low rate, low volume structure supports the traditional "carry" trade, in this case mostly antipodean currencies funded by cheaper EUR's. Since last week, dealers have tried to turn over the market in favor of the dollar supported by yield ... (full story)
