The yen has led the way among G10 currencies this year. Asset managers have been the most bullish on the yen since 2021. Dollar volatility has prompted traders to go long the yen in more ways. Click to view...
Steve Englander, global head of G10 FX research and North American macro strategy at Standard Chartered in New York, said recent US economic data did not provide a compelling case for a 50 basis point rate cut at the upcoming FOMC meeting. A 50 basis point cut but a bad decision could be worse than a 25 basis point cut but a bad decision. The reason for the 25 basis point cut is that the forthcoming inflation data does not support a rapid approach to the 2% inflation target. At the same time, th...