And what's more the Fed may cut by 50 basis points - now that could make things interesting....
A “cold currency war” refers to a conflict not fought with outright Central Bank intervention in the foreign exchange markets, but with interest rate cuts, negative interest rates, quantitative easing and yield curve control, according to Joachim Fels, global economic advisor at Pimco.
The market is already pricing in a 25 basis point rate cut by the Federal Reserve, but there’s a 50% chance the U.S. central bank may lower rates by 50 basis point in July while keeping open its options for another rate reduction in 2019, said Fel
