Strong US inflation and continued hawkish comments from the Fed failed to give any support to the USD as it sold off against all it’s major counterparts. US consumer inflation hit a 40 year high of 7% and Fed officials became more vocal for the need to raise rates. A march rise looks more certain than ever and many now moving to 3 rate hikes as the baseline for 2022. Fed funds indicate 3 rises to 0.75% – 1.00% by year end as the main scenario.
The Yen rally during the week saw it end the week the best performer. Reuters reported that BoJ policymakers are already debating whether it’s time to start communicating the possibility of an eventual rate hike to the markets. While the hike itself is hardly imminent, that would involve some change in the forward guidance.
The week ahead sees BoJ interest rate decision along with UK, Canada and Australia inflation measures which will be key to central bank policy in the coming months.
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Peyman Khosravani is a global blockchain and digital transformation expert with a passion for marketing, futuristic ideas, analytics insights, startup businesses, and effective communications. He has extensive experience in blockchain and DeFi projects and is committed to using technology to bring justice and fairness to society and promote freedom. Peyman has worked with international organizations to improve digital transformation strategies and data-gathering strategies that help identify customer touchpoints and sources of data that tell the story of what is happening. With his expertise in blockchain, digital transformation, marketing, analytics insights, startup businesses, and effective communications, Peyman is dedicated to helping businesses succeed in the digital age. He believes that technology can be used as a tool for positive change in the world.
