As the global energy shock continues to unfold, it seems investors are preferring exposure to those currencies with high interest rates and sitting on the right side of the energy import ledger.
The euro does not tick either of those boxes, but EUR/USD could be lifted by the rising tide of a weaker dollar.
We remain bearish on the dollar over a multi-quarter horizon as the Fed will eventually have the opportunity to cut rates back to neutral.
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By Chris Turner, Global Head of Markets and Regional Head of Research for UK & CEE
FX volatility has been subdued
Looking across asset classes, it is fair to say that just like equities and credit, FX
