October 10 2013

In the trading room today: The US Debt Limit, Credit Rating and the USD. In light of the news of a potential compromise on the US debt limit deadlock, we take a look back at the events from the summer of 2011 and explore the impact on the USD from an increase of the US debt ceiling and another possible cut of the US credit rating, we analyze the latest trend developments in the EUR/USD currency pair, take a look at the GBP/USD pair following the UK central bank’s meeting, we continue to monitor the strengthening of the USD vs JPY, we highlight the market’s reaction to the FOMC Meeting Minutes, the Bank of England interest rate announcement and the US Jobless Claims, we discuss new forecasts from Credit Agricole and UBS, and prepare for the trading session ahead.