Nearly two years ago, then-Fed Chairman Ben Bernanke (remember him?) suggested that the Federal Reserve was planning to gradually reduce the pace of its quantitative easing, a process that quickly became known as “tapering.”
It’s been an interesting start to what promises to be a interesting week in the forex market. The biggest story of Monday’s trade thus far has been the continued strength of the dollar despite disappointing data in the world’s largest economy.
Emerging-market stocks headed for the highest close in two weeks and most currencies strengthened on speculation China and the U.S. will maintain policies to support economic growth. Turkish shares rebounded.