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Jun 30 - 06:55 PM

G10: Strictness Of Lockdowns Matters To Some Pairs But Had Little Impact To Other Pairs - Credit Agricole

By eFXdata  —  Jun 30 - 03:00 PM

Credit Agricole CIB Research discusses the impact of relative strictness of lockdowns on G10 pairs. 

"With the risk of some G10 countries going back into lockdown amid outbreaks of Covid-19, we use the lockdown stringency index developed by the Blavatnik School of Government together with our FAST FX model to gauge the impact of lockdowns on G10 FX," CACIB notes. 

"We find that the relative strictness of lockdowns matters for EUR/USD and EUR/SEK, but has had little impact on USD/JPY, AUD/USD, EUR/GBP, EUR/NOK and USD/CAD. While the EZ went into a stricter lockdown earlier than the US, this has allowed it to begin easing restrictions earlier than the US, which in part explains EUR/USD’s recent strong performance," CACIB adds. 

Crédit Agricole Research/Market Commentary


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