Reversal of Fortune
by AIB Treasury Economic Research Unit
- Interest rates have been a key driver of currency markets in the past couple of years.
- More recently, most of the major currency pairs have been relatively range bound, despite significant volatility on financial markets
- While the dollar is now well below the 20-year highs hit last September, it still remains at elevated levels
- As already noted, interest rates have been a key driver of currencies in the past number of years
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