Forex: Risk On, Risk Off Could Soon Be History

This article in the Financial Times is pointing out that there maybe a change afoot in the markets. Risk on rick off trade is slowly being replaced with a new driver, interest rate expectations. This makes sense because when the major western central banks reduced their rates to near zero they took away the main driver in the forex market. Now with rates slowly moving back up, the return of interest rate expectations is becoming a market-moving force.