Firms play waiting game amid ‘fickle’ FX markets
Informa's Tony Nyman says September remains a “live” meet for the Fed, but December could be the trigger month to raise rates
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Foreign exchange market participants are sitting on the sidelines as uncertainty about the monetary policy path of the US Federal Reserve has led to unpredictable market conditions, according to Informa Global Markets (IGM), which topped last week's currency forecast tables.
Firms adopted a wait-and-see tactic while holding a tentative bias towards the dollar; an approach similar to that of IGM when forecasting the movements of the greenback.
"We have been playing a
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