Brexit

Sterling Takes a Hit… Brexit Not Going Well

March 12, 2019

Sterling depreciated 0.9% overnight against the dollar, which is otherwise down 0.2% against the yuan and Swiss franc and by 0.1% vis-a-vis the euro and kiwi. The dollar is also unchanged relative to the yen, loonie, Australian dollar and Mexican peso. Prime Minister May’s attorney general said changes in the handling of the Irish border […] More

Soft Data and Event Risk

February 27, 2019

It’s been a mixed morning for the dollar, which is unchanged against the yen and euro, 0.4% firmer against the Australian and New Zealand currencies, but down 0.5% versus sterling, 0.3% relative to the yuan and loonie, 0.2% vis-a-vis the Swiss franc, and 0.1% against the peso. WTI oil advanced 2.1%, while the price of […] More

Greater Optimism on A U.S. Border Security Deal

February 12, 2019

The U.S. Congress reached an accord “in principle” on a border security deal. Details still need to be fleshed out, and it’s not clear if President Trump is prepared to sign such. But the development inspired enough hope to lift U.S. share prices about 1% in early Tuesday trading. Stocks earlier rose 2.6% in Japan, […] More

Anxious Times for Investors

January 24, 2019

Investors continue to face three big uncertainties: the U.S. government shutdown, the fast-approaching Brexit deadline, and the failure so far of U.S. and Chinese trade negotiators to reach a mutually satisfying agreement. Planned senate votes on the border wall and shutdown are not likely to pass. The on-again, off-again scheduled state of the union address […] More

Softer Dollar and Yen

January 23, 2019

The yen fell 0.4% against the dollar overnight on data news and the Bank of Japan’s downward revision of projected core inflation for fiscal 2018, fiscal 2019, and fiscal 2020. The Bank of Japan left its monetary policy unchanged and also revised growth downward in the current fiscal year ending March 31 . BOJ Governor […] More

Markets Jittery Again over Uncertainties Related to Trade Tensions and British Brexit

December 4, 2018

Share prices fell  539 points  or 2.4% in Japan, 1.0% in Australia, 0.8% in South Korea, 0.7% in Singapore and 0.5% in Taiwan. European markets have lost 1.4% in the U.K., 1.0% in Germany, 1.2% in Spain, 0.9% in Italy and 0.7% in France. In the U.S., the DOW and S&P 500 each lost 0.6% […] More

A Stronger Pound on Brexit Hopes

November 22, 2018

The dollar has declined 0.7% against sterling. European Council President Tusk kindled hopes for a Brexit deal, declaring, that a deal “has been agreed at negotiators’ level and agreed in principle at political level.” The British Ftse has fallen 1.0%, and the 10-year British gilt yield climbed four basis points. With the United States celebrating […] More

A Focus on U.S.-Sino Trade Talks and European Politics

May 22, 2018

Trade tensions between China and the United States appeared to lessen further as China announced it will cut tariffs on autos and progress was reported on a ZTE plan. Italy’s President Mattarella did not immediately endorse the Prime Ministerial choice of Giuseppe Conte proposed by a League and Five Star to lead the next government. Conte […] More

Some Fresh Surprises

May 10, 2017

Trump’s firing of FBI Director Comey in the middle of the investigation into Russia’s efforts to influence the 2016 U.S. election has given an upward yank to suspicion that the Trump campaign may have played a complicit role. The firing also served to remind investors that Trump is an uncertainty-seeker. Comments from the Dallas and […] More

Dollar Firmer Especially against Sterling

March 14, 2017

The British parliament granted Prime Minister permission to activate Article 50 of the Lisbon Treaty later this month. Doing so will begin a two-year countdown to negotiate terms and complete the process of leaving the European Union. The dollar advanced 0.8% against the pound in response. The dollar has also risen 0.2% against the euro, […] More

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