British inflation
Dollar Strengthens but Stock Market Rebound Short-lived
October 17, 2018
The dollar rose overnight except against the yen, which kept pace. Assorted dollar gains amounted to 0.6% vis-a-vis sterling, 0.4% versus the euro and peso, 0.3% relative to the Swiss franc, kiwi and Aussie dollar, and 0.2% against the loonie and yuan. Except in India, whose stock market closed down 1.1%, share prices in the […] More
Awaiting FOMC Statement and Press Conference
June 13, 2018
The Federal Open Market Committee is widely expected to raise the federal funds target later today and will hold a press conference afterward. Markets will comb the new forecasts and dot-plot indication of individual FOMC member preferences regarding the future path of the interest rate. Market attention will remain on central bank policy. The European […] More
All Eyes on the FOMC
June 18, 2013
Whether, when, and by how much to taper quantitative stimulus is the question of the day, as the FOMC meets on the first day of a 2-day meeting. Creating even more uncertainty, President Obama while attending the G8 summit indicated that Chairman Bernanke had not originally planned to stay in that post as long as […] More
Weaker Yen and Pound
May 21, 2013
A day after suggesting the yen had fallen enough, Japanese Economics Minister Amari retreated, claiming no one really knows how far the yen’s downward correction will go. Sterling fell in response to lower-than-forecast British inflation in April. The lower inflation drops, the greater becomes the Bank of England’s leeway to stimulate growth if that is […] More
Verbal Support for Weaker Yen, Soft Dollar, and Firm Euro
February 12, 2013
G7 finance ministers and central bankers released a standard statement on FX policy that failed to criticize Japan: “We, the G7 Ministers and Governors, reaffirm our longstanding commitment to market determined exchange rates and to consult closely in regard to actions in foreign exchange markets. We reaffirm that our fiscal and monetary policies have been […] More
Fresh Concern over Greek Debt Talks
November 13, 2012
An Ecofin meeting failed delayed a decision on the next tranche of aid to Greece until November 20th. Leaders of the European Union and IMF have disagreed over deadlines when Greece must meet debt reduction targets. The euro hit a two-month low of $1.2661 overnight but is up 0.1% on balance at the moment. The […] More
