Tokyo Returns and Yen Stabilizes after Yesterday's Jump north Overview: The foreign exchange market is quiet. The greenback is narrowly mixed against the G10 currencies. Leaving aside thinner traded New Zealand dollar and Norwegian krone, the other currencies are mostly +/- 0.1%. Emerging market currencies are also mixed and mostly +/- 0.2%. The [...]
Progressives are losing the crypto future north As US conservatives rapidly shape the crypto landscape through policy, funding and grassroots adoption, progressives remain divided and hesitant. Progressives lack a unified strategy and risk losing relevance.
Yen Jumps as Governing Coalition Loses Majority in Upper House north Overview: The US dollar begins the new week with a softer bias, but it still needs to run the North American gauntlet, which has tended to be more constructive than other centers recently. As seemed likely, less than a year after losing its majority in the lower, the LDP and Komeito coalition [...]
Week Ahead: State of Dollar's Correction to be Determined north The US dollar rose against the G10 currencies and most emerging market currencies last week. But to the extent the upside correction this month has been spurred by a backing up of US rates, its recovery may be over or nearly so. The US two-year yield settled lower on the week and the 10-year [...]
Waller may be Alone in Advocating July Rate Cut, but it Weighs on the Greenback north Overview: The US dollar is trading softer against most G10 and emerging market currencies today. The dollar seemed to lose its bid late yesterday after Federal Reserve Governor Waller argued in favor a rate cut at this month's meeting, despite the TIC data that showed foreign investors bought [...]
Trial Balloon to Fire Powell went over like a Lead Zeppelin north Overview: A natural experiment of sorts unfolded yesterday. Heightened speculation, fanned in part by the White House itself, that after several threats, President Trump was going to fire Fed Chair Powell. Short-term rates fell but the curve steepened, the greenback sold off sharply, and [...]