FX News

Key Points this Week:

Key Points:

Queen Elizabeth II has died at age 96, the longest reigning monarch in British History. Oldest son Charles becomes the new monarch and will be known as King Charles III
An imminent Bank of Japan intervention of the JPY is just a matter of time
Fed’s Mester says the US economy won’t fall into recession, basing her view around the labour market remaining strong, interestingly S&P analysts are predicting a 45% chance of recession over the next 12 months
The Bank of Canada raised their Cash Rate Wednesday to 3.25% from 2.50% in efforts to slow the economy and bring down rising inflation, signalling they are not done hiking
The Global Dairy Auction Index came in +4.9% up on the previous event – leading the way was Milk Fat up 13.9%
The US Dollar (USD) been the strongest currency over the past 10 days while the British Pound (GBP) and the Japanese Yen (JPY) are the weakest on the main board
RBA governor Lowe says there are more rate hikes to come but future policy not set in stone
Japanese GDP q/q prints 0.9% , annualised 3.5% vs 2.9% expected

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