FX Weekly: 8th November 2010
Most intriguing week of the whole year in terms of event risk and convergence of macro data/policy meetings
Highly anticipated Fed meeting was largely in line with expectations as continuation of loose policy was confirmed
RBA & BOI raised interest rates underlining a growing policy gap between major and developing economies
BoE, ECB, BoJ and Fed left policy unchanged. RBA (25bp hike) was the only surprise
Greek elections passed without major incident indicating that the process of implementing austerity measures may not be bumpy from a political perspective
First fall in US unemployment since June unable to keep USD supported under the weight of QE2
Highly anticipated Fed meeting was largely in line with expectations as continuation of loose policy was confirmed
RBA & BOI raised interest rates underlining a growing policy gap between major and developing economies
BoE, ECB, BoJ and Fed left policy unchanged. RBA (25bp hike) was the only surprise
Greek elections passed without major incident indicating that the process of implementing austerity measures may not be bumpy from a political perspective
First fall in US unemployment since June unable to keep USD supported under the weight of QE2
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