PBOC Lifts Yuan Further While Greenback Consolidates and Oil Tumbles north The US dollar is mostly consolidating in narrow ranges against the G10 currencies. Japanese markets are closed until Thursday, and despite the softer rates the yen is off about 0.20% through the European morning to rival the Canadian dollar as the weakest among the major currencies. The [...]
Week Ahead: Trump-Xi Meeting Highlight north The near-term dollar movement continues to be sensitive to changes in US rates. The Federal Reserve delivered the quarter-point hike that was widely anticipated by a unanimous decision, and still the two-year yield rose a little more than eight basis points on the week, with the bulk coming [...]
Bank of Japan Hikes and Yen Tumbles north The US dollar is narrowly mixed against most of the G10 currencies. The notable exception is the Japanese yen, which is around 1.25% lower today. To be sure, the Bank of Japan lifted its overnight rate, as widely expected, and Governor Ueda seemed to signal a faster pace on policy adjustment. [...]
US Rates Steady after Yesterday's Surge and the Greenback Consolidates north The initial reaction to the Federal Reserve rate hike was to take US rates and the dollar higher, even though the hike was well anticipated. In addition to the dots, which showed 16 officials see another hike as likely being appropriate this year compared with six in June, Chair Warsh’s [...]