USD: Dormant FX markets lack direction in a world of Trumpian uncertainties Coordinated air strikes between the US, UK and France on Syria over the weekend have barely rattled dormant FX markets. Equally, the US Treasury’s FX report may have slid under investors’ noses – though admittedly it was a ‘damp squib’ given that major trading partners were only included in the analysis (Thailand was saved). But the relative inaction in the FX and bond market space may just be down to sheer confusion in a world of Trumpian uncertainties. We pinpoint five US policy themes – each of which have conflicting economic implications ... (full story)