Currency Volatility is Back - and it's Here to Stay
2022 was a remarkable year for global markets, with macro volatility back at levels not seen since the mid-1980s and forces conspiring to destroy the...
Millennium Global is pleased to share its latest quarterly Currency and Macro Outlook:
Global recovery likely to continue:
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Stronger labour market led by the US driving outperformance
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Wage prices likely to drive persistence of inflation
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Covid-19 ever present in markets. Vaccination progress has accelerated, zero covid strategies questionable
Policy diversion likely to be the strongest driver of currency markets. Central banks willing to normalise balance sheet policies in most countries. However only specific markets likely to deliver monetary policy tightening despite broader pricing.
CPI outlook likely to be critical in defining central bank monetary policy delivery.
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Japanese Yen - Ministry of Finance Intervention
Japanese authorities have reportedly spent more than 50 billion dollars defending the Japanese yen in the last few weeks. For currency investors, it...