The prolonged global recession remains a key influence on currency markets as we wait to see what role monetary policies from major central banks of the world will continue to play in 2014. A number of macroeconomic factors clipped the loonie’s wings this year—we’ve come to a point now where it’s clear the underpinning of the recovery in the eurozone can’t be sustained by only Germany; in this case a rising tide doesn’t necessarily lift all boats.
Because of this, Mario Draghi and the ECB, will likely have to do more in order to make sure the periphery nations are on a sustainable path moving forward.
Cambridge’s Chief Market Strategist & SVP, Mark Frey weighs in on what’s in store for currencies in 2014, as well as provides a forex forecast for next year.