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15 Jul 2013
Flash: Eyes on Bernanke speaking Thursday - BBH
FXstreet.com (Barcelona) - Global Currency Strategy Team at BBH note Bernanke delivers the first leg of the Fed's semi-annual report to Congress Thursday July 18.
They said, given Bernanke's recent track record for injecting volatility into the foreign exchange market, they suspect that the dollar is likely to broadly consolidate as participants await clearer signals of the Fed's intent. “The price action suggests that the short-term market positioning is not as extended now and this may mean it is less vulnerable to another Bernanke shock”.
They said, given Bernanke's recent track record for injecting volatility into the foreign exchange market, they suspect that the dollar is likely to broadly consolidate as participants await clearer signals of the Fed's intent. “The price action suggests that the short-term market positioning is not as extended now and this may mean it is less vulnerable to another Bernanke shock”.