Global FX: EUR/USD contemplation, GBP fiscal and JPY woes

In this episode of the At Any Rate podcast, Arindam Sandilya, Meera Chandan, and James Nelligan from J.P. Morgan's Global FX Strategy team discuss the implications of the U.S. government reopening and the upcoming non-farm payrolls data on the Federal Reserve's reaction function. Meera provides insights into her EUR-USD view for the coming year, highlighting the strength of the European growth story and its impact on the Euro. James then discusses how the European growth theme might be better expressed through higher beta currencies like Scandis, while also addressing the uncertainty surrounding the UK budget and its potential impact on Sterling. Arindam concludes with observations on Asian FX, particularly the discomfort of North Asian policymakers with recent currency weakness and potential interventions.