-
Commitments of Traders - Speculators pile up on EUR and cover 60% CAD longs
Investors had been hoping for a less dovish interpretation of this month’s FOMC meeting from Yellen and Dudley but both members of the Fed leadership failed did make any specific mention of monetary policy or the economy. Instead, the loudest comments came from Fed President Kashkari who was the only voting member of the central bank who opted to keep interest rates unchanged at the last meeting. U.K. Prime Minister May expected to trigger Article 50 in the next few days, formalizing the U.K.’s divorce from the European Union. Expect GBP/USD to fall quickly or aggressively when the announcement is made but it ... (full story)