What to expect from the BOJ and the Fed
One month since the Brexit referendum, the USD appears to be once again in the driver’s seat. However, the complexion of the FX markets has been somewhat different than anticipated, with risk sentiment proving resilient, and the combination of strong US corporate earnings and solid economic data has caught the markets by surprise. The interaction between Fed expectations and the global risk backdrop will be key for the direction of the USD in the coming weeks.
