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Van-Petersen: FX traders have little faith in US Fed

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Divergence in monetary policy between the ECB and the US Federal Reserve remains a big theme in the FX market, but traders appear to have little faith in the FOMC hiking rates in December, says Saxo Bank’s Kay Van-Petersen. As a result, the euro is grinding higher against dollar.

It will be a big week for central banks with rate decisions in both Asia and Europe this week. Van-Petersen looks at what to expect from the Reserve Bank of Australia as well as Norges Bank and outlines how he is trading.