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Two-way risk for EURGBP — #SaxoStrats
John J Hardy
Yesterday at 11:42 GMT
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The week ahead in macro — #SaxoStrats
Kay Van-Petersen
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Clive Lambert - FuturesTechs
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Equity Update webinar: New highs — #SaxoStrats
Peter Garnry
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Steve O'Hare - First 4 Trading
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Technical analysis webinar - A view of the market: Larsson
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Video / 15 February 2017 at 12:54 GMT

Increased expectations of a Fed rate hike — #SaxoStrats

John J Hardy
Fed chair Janet Yellen's testimony generally failed to generate big headlines, says Saxo Bank head of FX strategy John Hardy.

The testimony was seen as hawkish and increased expectations of a Fed rate hike, adds Hardy.

If the Fed does hike rates in March there will be a frequency issue and one way out of this would be using the March meeting as a setup for a May hike, says Hardy.

It’s less about Fed guidance and more about incoming data and the Trump administration’s policy mix, according to Hardy.

We’ve seen the dollar strengthening after Yellen's testimony, he says.

At some point a hawkish Fed will put the brakes to risk appetite - just not yet. The US 10-year yield is a key parameter for when the Fed will take action.

For now look out for how impact of risk appetite and dollar strength, Hardy concludes.
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