🇺🇸🔺Monetary Conditions Ease In U.S.: Cable FX Macro

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• So far this year is looking like a continuation of the 4Q trend as monetary conditions continue to ease to cycle highs

• The development is particularly interesting as we are heading into the January FOMC meeting and Fed Chair Powell is likely to be questioned on financial conditions

• Easier financial conditions in the U.S. mean the Fed is less likely to present a dovish stance in January. This could mean that the Fed could push against expectations of a March rate cut