“Nightmare”, “Painful” and “a grind” have been some of the words that currency markets have been described as in 2015. The hurt may have come from Greece, China, Switzerland or any of the litany of influences that we have seen impact upon markets in the past 12 months but if I were to summarise the drivers of the currency markets in 2015 in a few words I would use: divergence, floor, deflation and “one-time correction”.
What about 2016 though? Click here for our thoughts on what you need to be aware of in the coming 12 months.