RBC Capital Markets: US views could be trumped
Electoral uncertainty and the risk of a Trump presidency could force the Federal Reserve to hold back longer than expected
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Political uncertainty is set to dominate foreign exchange price movements in the near term as election fever escalates in the US and ahead of the UK vote on European Union membership on June 23.
Adam Cole, head of G10 FX strategy at RBC Capital Markets – winner of last week's currency forecast tables – says these two events will dominate the direction of both EUR/USD and GBP/USD. The latter is expected to rebound to levels above its recent high of 1.46 if the UK votes
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