Nomura on what have been the critical trigger for US dollar moves
Comments from Nomura on the USD (via Bloomberg report)
- US rate markets have returned to pricing in a (small) probability of a Federal Reserve hike
- global growth expectations have risen - assisted other currencies to gain against the USD
- And, "the dollar has been too strong relative to interest rates for a while now"
- Fed communications "have been the critical triggers for dollar moves"
- (bolding mine)
Fed communications …. sheesh … they've been a bit messy for sure.