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Oct 20 - 10:55 AM

G10: What Does The Shift Towards The ‘Reflation’ Theme Mean For G10 FX Markets? - Credit Agricole

By eFXdata  —  Oct 20 - 09:30 AM

Credit Agricole CIB Research discusses the impact of shifting towards the reflation theme on G10 FX markets.

"What does the shift towards the ‘reflation’ theme mean for the G10 FX markets? The high-yielding currencies of G10 energy exporters could remain the biggest beneficiaries. The USD should be able to hold on to its recent gains vs the JPY where its yield advantage is an instrumental driver but the sizeable market longs in the currency could limit any meaningful gains elsewhere," CACIB notes. 

"The EUR and GBP could benefit from abating fears about an energy crisis in Europe. We worry, however, that too many positives are in the price of the GBP with respect to future policy tightening by the BoE," CACIB adds. 

Source:
Crédit Agricole Research/Market Commentary

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