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In Natixis’ latest FX-MM blog, Nordine Naam examines why ‘the market is in wait-and-see mode over Greece’

Despite Janet Yellen appearing cautious around disclosing any information regarding the timing of interest rate hikes given global risks – one being an eventual “Grexit”, while another a stronger dollar penalising US exports –  Nordine Naam remains confident in this week’s FX-MM blog that the Fed will raise the Funds rate in September.

Providing a weekly forecasting outlook, Naam predicts that the 3-month implied volatility for the EUR/USD will continue to tower on high at around 11.50% – bearing in mind the pair remains volatile due to the uncertainties surrounding the Federal Reserve and Greece. Meanwhile, the week saw Sterling extended its rebound in the face of a weaker US dollar and in reaction to the improvement innatixis logo several macroeconomic indicators; notably employment and wage growth in April.

To read Nordine Naam’s weekly currency blog, please click here

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