By Petr Krpata, Chief EMEA FX and IR Strategist
Measures taken on both the fiscal and monetary front and signs of reducing USD funding squeeze suggest that global FX markets may be about to exit the period of profound, indiscriminative moves, where the USD appreciates abruptly. This should be particularly helpful for NOK and GBP, which have been vulnerable during periods of the USD funding squeeze
Tentative signs of improvement…
Although the rally in risk assets stalled overnight and today (equities are down, many EM currencies lower vs. USD), the fairly well-behaved price action in