Jens Nordvig
Jens Nordvig
Jens Nordvigis a Danish-born economist specializing in foreign exchange markets and macroeconomic policy. He is the founder of Exante Data...
NationalityDanish
ProfessionEconomist
Date of Birth19 April 1974
CountryDenmark
almost center european forces impossible incredibly italy obtain politics pull towards
Historically, the pull towards the center in European politics has been incredibly powerful. From Italy to Germany, it has been almost impossible for non-centrist forces to obtain real influence.
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The dollar is going to have a hard time. Investor expectations for the Fed will run out of steam.
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They are going to tighten one last time in April. Risk on the economic growth is on the downside. This doesn't provide great reason for the bank to go further.
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People are starting to reassess Fed expectations and that's triggered the dollar move.
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It's a very long time since we've had so much uncertainty about a Fed meeting. That's what's making the situation so volatile.
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Data like this support the idea that not everything in the U.S. is strong. The Fed will require strong growth rate to keep going with rates.
hit later looking three
We are looking for 110 yen in three months, and we could well hit 100 yen later this year.
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Under normal circumstances with this kind of figure, you would expect to see significant dollar weakening. The fact that you're not seeing that seems to indicate that people have quite a bit of appetite to take on long dollar positions.