Summer doldrums leave markets range-bound

CURRENCY FORECASTS

Foster-Smith said coming hard on the heels of the Bank of Japan rate announcement of the end of quantitative easing, the European Central Bank and the Bank of England both hiked interest rates, while the Fed left rates unchanged. This ended a 17-month tightening cycle. "However, all these factors were widely expected, and as a result there were few real shocks for markets to absorb and prices to react to," he told FX Week. Economists had long been heralding the end of the Greenspan era, and the

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