Foreign Exchange Insights and Next Week
Is the Dollar Uptrend Over or Merely in a Pause?
April 9, 2015
It’s difficult to gauge momentum behind the dollar’s uptrend by focusing upon bilateral currency relationships. Market-determined currencies like the euro, yen, Swissie, sterling and Australian, Canadian and New Zealand dollars have not moved in lockstep since the dollar’s current rally began about eleven months ago, nor have the cumulative swings in the dollar against each […] More
Central Bank Watch
South Korean Seven-Day Repo Rate Left at Record Low of 1.75%
April 9, 2015
The decision to leave South Korean monetary policy unchanged was most likely an intentional pause rather than a signal that the easing cycle is over. A 25-basis point cut in March had been the first change in five months and the fourth reduction since May 2013. If Bank of Korea officials think Fed tightening will […] More
Central Bank Watch
Bank of England Policy Still on Hold as Expected
April 9, 2015
The Monetary Policy Committee generally does not provide any useful information immediately after its monthly meetings, and the April statement released today was no exception. The publication of meeting minutes some two weeks later has usurped the decision announcement as the British central banking event of the month. Minutes will be released April 22. Last […] More
New Overnight Developments Abroad - Daily Update
Australian and New Zealand Dollars Strengthened Overnight
April 9, 2015
The Oz and kiwi each advanced 0.7% against the U.S. dollar, which otherwise firmed 0.3% against the Swissie and 0.1% versus the yuan, euro and sterling but fell by 0.3% relative to the loonie and 0.1% against the yen. Share prices advanced 2.7% in Hong Kong, 0.8% in Japan, and 0.6% in India but fell […] More
