No data, no news, no volatility
The dollar is cruising toward a third consecutive day of declines and short-term Treasury yields are coming under mild downward pressure as investors firm bets on a fairly-forceful easing path from the Federal Reserve. Most major foreign exchange pairs are caught in narrow trading ranges amid a lack of political and economic catalysts, leaving currencies like the Canadian dollar and Mexican peso almost unchanged on the week. The Fed’s latest Beige Book survey pointed to a slowing in momentum in the world’s largest economy. On balance, “economic activity changed little” between September and October, with three of twelve districts reporting...