The US Dollar has made ground in a week full of central bank action. The RBA led the way yesterday, stepping back from yield curve control having already begun tapering their bond purchasing program.
The Fed are up today, and the market is on tapering tenterhooks as expectations are high for a reduction in the monthly asset purchasing program. There will be significant focus on the wording in the statement for clues on when the program will end and when the rate hikes will begin.
Tomorrow, the Bank of England is priced in to make a rate hike by markets. There is also speculation around their bond buying program. There has an upheaval in the UK bond market due to lack of supply of Gilts.
