The FX Files – Due to Inclement Weather…

FICC Strategy Reports

Into the start: US markets are closed today for MLK Day. Core rates are largely down to start the week – taking their cue from US underperformance on Friday. There’s a LOT of focus on the energy markets this week due to weather and geopolitics. Prompt crude is still flirting with multi-year highs as supply remains tight. Prompt natty is down to start the day. Commodity FX is higher against the USD so far – led by the NOK (+0.43%) and the CAD (+0.30%). Major importers – like the JPY and KRW are amongst the underperformers so far. The broad USD gauge is muted so far.

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