March was an extraordinarily busy month in the foreign exchange market, with a host of major central bank announcements creating an interesting trading environment. The Bank of Japan and Swiss National Bank both surprised investors, with the former raising interest rates for the first time since 2007, while the latter cut its main rate one meeting ahead of expectations.
The dollar has rallied against most currencies globally, despite the Fed indicating to markets that it sees three US rate cuts in 2024. Meanwhile, the Bank of England delivered a ‘dovish hold’, hinting that lower UK rates could be on the way in the not too distant future. But when could the MPC deliver its first interest rate cut?
We’d like to hear from you! Provide us with feedback so we can improve the podcast: https://linktr.ee/fxtalk
Liked this show? Please leave us a review here – even one sentence helps!