Myriad factors impact major currency pairs, says Gallo

Currency wars, the end of QE and the influence of policymakers makes foreign exchange markets a myriad and complex area, says Stephen Gallo, head of foreign exchange strategy Europe, at Bank of Montreal

Stephen Gallo gives a comprehensive round-up of world currencies

What is your macro view?
In the current context it is important to keep in mind the importance of capital flows – where we have come from, where we are and where we could be heading.

The first thing in the currency arena that comes to mind is the concept of currency wars. I do not think the concept of currency wars is hyperbole. From that perspective it is important to understand what capital flows were like before the crisis, what they are like now and why we have seen the resultant moves in a

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here