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FxPro – Weekly Look Ahead

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Forex: Not going to (the dollar) plan

Once again, the consensus on FX is struggling to be proven correct and there are strong echoes of six months ago. Back in early July, the Fed tapering story was gathering pace. Partly in response, the Bank of England (in one of the new governor’s first acts) actively warned against rising rate expectations spilling over into the UK money markets. A month later, the Bank announced explicit and condition forward guidance. Also in July, the ECB announced that rates would remain low “for an ...