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The forex trends following Yellen and Carney
As the Bank of England raised expectations of a rate hike next year in its latest inflation report, Saxo Bank’s traders say they’re seeing sterling volumes in the options market trading at “very high levels”.
Meanwhile, they explain euro dollar is “getting paid up” following comments from the ECB which said the central bank was considering negative deposit rates. ECB Governing Council member Erkki Liikanen said negative interest rates are a policy option for the European Central Bank should the Eurozone inflation outlook deteriorate.
And the Aussie has been given a lift following upbeat Chinese trade data - which has eased concern about China's economy. The AUD has since retreated a bit but the traders are keeping a close eye on the currency ahead of the Australian unemployment data – out on Thursday.
01:23 minutes
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