A president, two central banks and the FX market

Donald Trump's economic policies could determine the Fed's response, while Brexit could put BoE and ECB in the spotlight

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Ripple effect: Donald Trump's actions and Brexit are certain to have an impact on currency markets

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The first quarter of 2017 will be dominated by the anticipated policies of a newly elected US president, and the steps taken by the Federal Reserve and the Bank of England, says James Chen, head of research at Gain Capital, which topped last week's three-month and 12-month currency forecast tables.

"Going forward, much will hinge upon when the Fed ends up raising interest rates again. Although the Fed's outlook has certainly become more hawkish, especially after Dona