Afternoon US Dollar Wrap-Up
The greenback continued in two-way trade ahead of US data tomorrow; today’s action was confined to established ranges for the most part with the exception of GBP.
Morning Forex Briefing
In a surprise move over the weekend, the PBOC raised interest rates 27 BP taking the one year deposit rate to 2.79% and the one year lending rate to 6.39% respectively.
Afternoon US Dollar Wrap-Up
The USD continued to trade in solid two-way technical action today after a weak finish from last Friday was erased overnight starting in Asia.
Morning Forex Briefing
The USD is softer to start New York after breaking down overnight Asia.
Morning Forex Briefing
Equity markets in Asia were firmer overnight lending further support to the USD/JPY.
Afternoon US Dollar Wrap-Up
In my view the set-up for the weaker USD is about done for the week.
Morning Forex Briefing
In my view, the past two-days of weakness in global stocks is a huge over-reaction to the potential of a handful of banks or finance companies threatened with failure or regulatory interference.
Afternoon US Dollar Wrap-Up
The USD is mixed to lower today after concerns for Yen carry trade unwinds continued as well as a new potential bearish indicator developed: the sub-prime lending meltdown.
Morning Forex Briefing
The USD is trading mixed to start New York after a two-way overnight session that saw the JPY crosses again the most active on the board.
Morning Forex Briefing
The USD is trading lower to start New York after falling off a bit in late European trade.
Morning Forex Briefing
In my view, the USD is set to make solid highs for the near-term against GBP and EURO.
Morning Forex Briefing
A case of “buy the rumor/sell the fact” appears to be active in the GBP and the EURO this morning as both the BOE and the ECB provided “as expected” fundamentals.