FX spot isn’t just “macro + headlines.” Behind the chart there’s a constant options hum: funds hedge FX risk, dealers manage delta, speculators trade volatility itself. These flows are like underwater currents beneath a...
Fed/EZB Setup: Soft Fed, Cautious ECB The Fed cut –25 bps and hinted at additional reductions in 2025. The ECB is on a “cautious pause.” Global funds are buying U.S. assets while hedging USD...