Yesterday, the USD surged, driven by the momentum of quarter-end flows. Earlier in the day, both GBPUSD and EURUSD reached fresh highs.
*Daily move - against G10 rates at 7:30am, 26.09.24
** Indicative rates - interbank rates at 7:30am, 26.09.24
Focus today falls on the pre-recorded remarks from Fed Chair Powell at 2.20pm UK time, as well as comments from a host of other Fed speakers: Collins, Bowman, Barr, Cook and Kashkari. Following last week's Fed meeting and revised dot plot, their speeches will be crucial. Additionally, the weekly jobless claims are also expected to play a major role in USD moves.
Elsewhere, the Swiss National Bank is expected to cut rates by 0.25% but there is a 40% chance that we could see a 0.50% rate cut.
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