After last week’s brief excitement markets have relapsed back into summer slumber. With few clear macro catalysts ahead and geopolitics apparently taking a back seat, it’s a good time to look up from micro distractions and scan the horizon for forthcoming trends. We reprise our fundamental FX scorecard last published in January, this time cross-checking how currencies compare to the start of the year.* A basket trade of the top four currencies vs. the bottom four based on the January scores would have garnered 1.85%, while the top three vs. bottom three would have set you back -0.35%.
Read the full report: FX Daily