Steno Research

Steno Research is a new macro and geopolitical research house. We are based out of Copenhagen, Denmark, but have an international team and a strong network of sources and partners around the world. The team is lead by Andreas Steno, previous global head of strategy at Nordea Bank, and Mikkel Rosenvold, former chief consultant in the Danish Ministry of Finance.

Macro and Geopolitical Research House

Head of Research and Global Chief Strategist, Steno Research

Andreas Steno

Head of Research and Global Chief Strategist

FX & Rates

<ul>
<li>“I’ve said on many occasions that I think a market-determined value for the dollar is in America’s interest. And I continue to feel that way.” - Janet Yellen, October 2022</li>
<li>Janet Yellen basically wrote off the possibility of a Plaza Accord 2.0 (coordinated action against a strong USD) in Q4-2022 when the energy crisis was at its peak with a strong USD against almost all peers.</li>
<li>The current situation looks mostly reminiscent of last year, why we struggle to see why the US authorities should alter their view.</li>
</ul>


“I’ve said on many occasions that I think a market-determined value for the dollar is in America’s interest. And I continue to feel that way.” - Janet Yellen, October 2022
Janet Yellen basically wrote off the possibility of a Plaza Accord 2.0 (coordinated action against a strong USD) in Q4-2022 when the energy crisis was at its peak with a strong USD against almost all peers.
The current situation looks mostly reminiscent of last year, why we struggle to see why the US authorities should alter their view.


FX Watch: The World Needs a Riyadh Accord More than a Plaza Accord 2.0