This week the market will focus primarily on events in Iraq and its subsequent effect on the oil price. We will take look at how this will affect the FX market and start with a look at the Canadian dollar, the currency most likely to benefit from the rising oil price. The other key event last week was the U.S. FOMC meeting and Janet Yellen subsequent dovish remarks. This heralded a move lower in implied volatility in G10 currencies to an all-time low.
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