FX Navigator H1 2023

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Key takeaways

 
The first quarter of 2022 opened with an air of cautious optimism, characterised by expectations for a slowdown in inflation and hopes that markets would resume their upward trend. This rapidly became a distant memory as global supply chains buckled, commodity prices soared, and central banks were faced with their fiercest battle with inflation in recent history.

10.3%

Global CPI (OECD Figures) (including energy and food)

227%

Price of Natural Gas compared to historic baseline higher than mean 2017-2022

4.97%

Fed's anticipated terminate rate