We have a special guest in this episode of FX Talk, Ebury's Head of Nordics, Carl Lindh, as we debate the outlook for the main currencies in Scandinavia. Before we get into that, we discuss the fallout from the latest major central bank meetings, and October\u2019s underwhelming US nonfarm payrolls report.
Both the Federal Reserve and the Bank of England held rates steady this month, while hinting that further rate hikes were probably unlikely. The FOMC struck an optimistic tone on US growth, although Powell expressed caution due to the increase in Treasury yields and a lag in policy transmission. Meanwhile, the Bank of England slashed its 2024 GDP forecast, warning that the UK economy was set to flatline next year.
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