larrygreenberg @ May 17, 2013 # Comments Off
Fresh impetus for a firm dollar was provided by San Francisco President Williams. Usually aligned with Bernanke, he expressed growing confidence in the U.S. labor market and suggested that quantitative easing could be scaled back by summer. The d…
larrygreenberg @ May 16, 2013 # Comments Off
One hears increasingly the opinion that the dollar may be in a multi-year period of strength. Optimism rests on several pillars. One is the broadness of the dollar’s recent advance. Across-the board appreciation has transpired since t…
larrygreenberg @ May 14, 2013 # Comments Off
The 10-year Japanese JGB yield jumped another ten basis points to 0.84%. The 30-year JGB auction had a yield of 1.775%, 28 basis points higher than the prior one. Ten-year German bund and British gilt yields are a basis point firmer. …
larrygreenberg @ May 9, 2013 # Comments Off
Two themes are dominating currency market life. One is disinflation. A funny thing happened on the way to the widely predicted explosion of inflation that market players feared would be the result of fiscal deficit spending and rapid growth…
larrygreenberg @ May 9, 2013 # Comments Off
Rises of 0.9% in the kiwi and 0.6% in the Australian dollars versus the greenback were inspired by better than expected labor statistics in those economies. Australian employment jumped 50.1K in April, easily reversing a 31.2K decline in March and fore…
larrygreenberg @ April 30, 2013 # Comments Off
The yen weakened additionally in April, but the dollar failed to catapult above the key JPY 100 level. The dollar fell against European currencies, most commodity-sensitive currencies and the Chinese yuan. A more aggressive-than-anticipated…
larrygreenberg @ April 26, 2013 # Comments Off
After a Policy Board meeting lasting four hours and 28 minutes, the Bank of Japan left its interest rate target at zero to 0.1% and did not initiate any new quantitative easing initiatives beyond those unveiled at the prior meeting. The monetary …
larrygreenberg @ April 25, 2013 # Comments Off
It’s been another uneventful statement week for key dollar exchange rates. The Canadian and Australian currencies remain boringly close to parity with the greenback. The waiting game goes on for the euro, which has averaged $1.3154 th…
larrygreenberg @ April 25, 2013 # Comments Off
The dollar has fallen 1.1% against sterling, 0.8% versus the kiwi, 0.5% relative to the yen, 0.4% against the euro and Australian dollar, 0.3% vis-a-vis the loonie and Swiss franc and 0.1% against the Chinese yuan. Holiday closures today are in A…
larrygreenberg @ April 19, 2013 # Comments Off
Japan’s delegation got its spin of the Group of Twenty talks out first. Finance Minister Aso said no objection was made to Japan’s reflationary policies, which are meant to end deflation. It’s not a policy to devalue the y…