After a busy week of central bank meetings, Derek Halpenny, Head of Research Global Markets EMEA &amp; International Securities sits down with Nico Jan Thiesen, Global Client Sales to discuss the implications for the FX markets. The Fed meeting impact on the dollar, the BoJ impact on the yen and the BoE impact on the pound are discussed as are the implications for EUR cross currency risks given the potential for moves in the US dollar.

FX Crosscurrents: The Impact of Global Central Bank Decisions

The MUFG Global Markets Podcast

Welcome to the MUFG Global Markets FX Week Ahead Podcast with Derek Halpenny, Head of Research, Global Markets EMEA and International Securities. It's Friday, June 19th, 2026 and joining Derek to pose some questions on the financial market themes for the week ahead is Nico Jamthinsen, Global Client Sales.

This material is only intended for professional investors in jurisdictions in which its use is permitted under applicable laws, rules and regulations. It has been produced for information purposes only and should not be construed as investment research or advice. MUFG EMEA disclaimers and disclosures can be located on our website. Hi Derek, how are you? I'm very good Nico, how are you?

Yeah, not bad, not bad. Thank you. In this very busy central bank week. So it has been very busy. We had RBA, Bank of Japan, Fed, Riksbank, Bank of England, SNB. And, you know, looking at what happened over the last days, big move in the dollar, probably the Fed meeting was the most important one.

What are your thoughts on the FOMC outcome? And, you know, especially rate wise, what do you expect the Fed to do? Yeah, like I totally get the reaction in the markets. I think the DOT's profile and the median DOT profile was really the clincher in terms of the market move.

And since the DOT profile began, the first one was published back in 2012.

We've never had a bigger shift from one publication to the next in terms of moving from, you know, nobody expecting a hike in the March dot profile to nine expecting a hike in this one. So it was a dramatic shift. And I think that certainly spooked the market.

FX Crosscurrents: The Impact of Global Central Bank Decisions

Read the full transcript

The candid version is on a podcast,
not the earnings call.

FX Crosscurrents: The Impact of Global Central Bank Decisions

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.