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Insights Q3 Outlook: The calm before the storm
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Saxo Bank's John J. Hardy says a withdrawal from quantitative easing in the US, a new Fed chairman on the way and the looming German elections could lead to a dramatic return of volatility by year-end.
Solid USD gains at the start of the year were replaced in Q2 and early Q3 with wild indecision. Now, the currency should send a clearer signal of its intent to rally as the Fed asset purchase taper begins, though US and global growth worries remain.
Solid USD gains at the start of the year were replaced in Q2 and early Q3 with wild indecision. Now, the currency should send a clearer signal of its intent to rally as the Fed asset purchase taper begins, though US and global growth worries remain.