JP Morgan: Commodity currencies will rally
“Currencies are almost completely policy-driven now, which is why volatility remains above average and intra-week reversals are so common,” said John Normand, global head of foreign exchange strategy at JP Morgan in London. “Officials need to clarify three issues before risky markets can resume their uptrend: the scope of financial sector regulation, the extent of European Central Bank bond purchases and the strategy for recapitalising weaker European banks.”
Normand said June is a high-risk
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