Jane Foley, Senior FX Strategist at Rabobank, suggests that there are no key data releases today although scheduled speeches from the Fed’s Dudley and Kaplan will ensure the outlook for Fed policy remains a prime focus. Key Quotes “Last week Dudley remarked that he is cautiously optimistic on China though he conceded that prospects for world growth had diminished. Dudley is an established Fed dove. Later in the week the Fed’s Williams and Lacker are due to speak. Like Kaplan, Lacker and Williams are currently non-voting members of the FOMC. Lacker is considered to be a hawk while more dovish remarks can be expected from Williams. The BoE and the BoC will hold policy meetings later this week and steady policy is expected from both. Although the BoE’s MPC continues to suggest that the next policy move is likely to be a hike, the UK money market sees a greater chance of a cut than a hike into early 2017. The Canadian economy is clearly undergoing a difficult adjustment on the back of soft energy prices, but the strong 0.6% m/m rise in January GDP supports the BoC’s cautiously constructive outlook.” For more information, read our latest forex news.