A rising USD/CNH translates into more pressure on JPY, AUD and NZD – SocGen USDCNY USDJPY EURUSD Currencies Banks
Relative ECB and Fed rate paths suggest the euro remains vulnerable unless stronger European data emerges soon. EUR/GBP meanwhile, is tracking rate expectations very closely, but since we’ll get two more months’ worth of CPI data before the Sep 21 MPC meeting, a big lurch in expectations is unlikely, one way or the other.
Finally, NOK/SEK is also tracking rate expectations closely. The Norges Bank is likely to raise rates by another 25 bps at next week’s meeting and that should be enough to keep the NOK bid.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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