Last week, the dollar put in its worst performance this year after the Federal Reserve meeting was perceived as less hawkish than analysts predicted. In actual fact, the Fed did say that “progress” was being made towards normalisation, but in a relatively quiet market, traders ignored the subtleties of language and decided to sell dollars.
Just as Europe starts it summer holiday, last week saw some interesting developments on markets with swing between optimism and pessimism, despite worries over the spread of the delta variant ebbed and flowed.
Our review of how volatility returned to the markets with a vengeance last week as small traders took on the wall street monoliths in the stock market.
The optimism that surrounded the start of the New Year quickly evaporated last week as the spread of COVID-19 worldwide started to concern the currency markets.
A look at how COVID-19 infections continued to increase exponentially in the UK, the US and across Europe threatening the already fragile recoveries.
