FX Alpha 06 August 2013 |
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Tapering doubts. The future path of monetary policy of Fed and ECB differs. While the Fed looks for the perfect timing to reduce stimulus the ECB just delivered some kind of forward guidance to make the markets believe that nothing will change. However, the fact that the euro did not really loose ground against the greenback illustrates that the market does not believe in the picture of differing monetary policies.
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