Tag Archive: GBP/CHF

FX Daily, July 12: Currencies Stabilize, but Yen Strengthens

The US dollar and sterling have stabilized after being sold off yesterday. The yen, which had begun recovering from a four-month low, is the strongest of the major currencies today, gaining around 0.5% against the dollar (@~JPY113.40).

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FX Daily, July 06: Stocks and Bonds Mostly Heavier, while Dollar Hovers Little Changed

The US dollar is narrowly mixed against the major currencies after being confined to tight ranges through the Asian session and European morning. Equities are nursing small losses, and interest rates are pushing higher. The yield on the 10-year German Bund reached 50 bp for the first time since early 2016. Oil prices have steadied after yesterday's slide.

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FX Daily, July 05: Dollar Firm as Investors Await Fresh Directional Cues

The US dollar is enjoying a firm tone today. Yesterday's two weakest major currencies, the Australian dollar and Swedish krona are the strongest currencies, but little changed on the session. After a strong rebound in the greenback to start the week, it mostly consolidated yesterday.

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FX Daily, June 28: Draghi’s Sparks Mini Taper Tantrum, Euro Chief Beneficiary

Sounding confident, ECB President Draghi seemed prepared to reduce the asset purchases, and this overshadowed his explicit recognition that substantial accommodation is still necessary. This is very much in line with what many, including ourselves, anticipate: At the September ECB meeting, an extension of the asset purchases into the first part of next year, coupled with a reduction in the amounts being purchased.

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FX Daily, June 23: Dollar Pares Gains Ahead of the Weekend

The US dollar is trading lower against all the major currencies today, which pares its earlier gains. The greenback is holding on to small gains for the week against most of them, except the New Zealand dollar, Swiss franc and Norwegian krone.

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FX Daily, May 31: Sterling Takes it On the Chin

Projections showing that the UK Tories could lose their outright majority in Parliament in next week's election spurred sterling sales, which snapped a two-day advance.  Polls at the end of last week showed a sharp narrowing of the contest, and this saw sterling shed 1.3% last Thursday and Friday. 

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FX Daily, May 25: Euro Strength more than Dollar Weakness

The Dollar Index is heavy, just above the lows set earlier this week set near 96.80. However, this exaggerates the dollar's weakness because the weight of the euro and currencies that shadow it, like the Swiss franc and Swedish krona. As the North American session is about to start, the dollar is higher against the dollar-bloc currencies and the Japanese yen.

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FX Daily, May 24: Dollar Consolidates, While Market Shrugs Off China Downgrade

After staging a modest recovery in North America yesterday afternoon, the greenback is consolidating in narrow ranges. Momentum traders, who appeared to dominate activity recently, paused. To be sure, the greenbacks upticks have been modest, and little technical damage has been inflicting on the major foreign currencies.

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FX Daily, May 17: Drama In Washington Adds To Dollar Woes

The US dollar has drifted lower against most of the major currencies as the culmination of news from Washington, escalating already rising concerns about the economic agenda that was to bolster growth with dramatic tax reform, infrastructure initiative, and re-orienting trade.

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FX Daily, May 12: Markets Becalmed Ahead of US data and Weekend

The foreign exchange market is becalmed, and the major currencies are little changed. The US dollar is mixed, but mostly a little lower. Sterling is the weakest of the majors, off 0.3%, near $1.2850, having been rebuffed by offers in front of $1.30 several times. It has not recovered from the quarterly inflation report and Carney's press conference.

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FX Daily, April 28: Markets Limp into Month End

Equity markets are stalling into the end of the month. MSCI Asia-Pacific Index is snapping a six-day advance, and the week's gain was sufficient to extend the advancing streak for the fourth consecutive month. The Dow Jones Stoxx 600 is trading off for the second consecutive session, after rallying for six consecutive sessions.

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FX Daily, April 26: Dollar Stabilizes Ahead of Trump and ECB

The US dollar was marked down in response to the French election and saw some follow through selling yesterday, but the momentum had slowed, and now it is stalled. The greenback is posting upticks against nearly all the major currencies. There is a good reason to be cautious.

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FX Daily, April 25: Euro Consolidates Gains, Bond Market Sell-Off Continues

The US dollar is again at the fulcrum of the foreign exchange market. The dollar-bloc currencies are under pressure, along with the Japanese yen, while the European complex is posting modest gains. The euro is consolidating in the half cent below $1.09. Yesterday's marked up in early Asia saw the euro complete the 61.8% retracement of the losses since the US election, which was found near $1.0935

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FX Daily, March 28: Prospects for Turnaround Tuesday?

The slide in the US dollar and US interest rates faded in the North American session on Monday. US participants also had a fairly relaxed initial response to news that after years of complaining, the Republicans could not agree on an alternative to the Affordable Care Act.

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FX Daily, March 24: Dollar Trying to Stabilize Ahead of the Weekend

The US dollar has been stabilizing over the past couple of sessions. This broad stability of the dollar is impressive because of the questions of the prospects of US President Trump's economic agenda. Expectations for tax reform and infrastructure spending have bolstered investor confidence and helped boost equity prices despite what appears to be stretched valuation.

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FX Daily, March 17: Dollar Remains Heavy

The dollar is softer against most of the major currencies to cap a poor weekly performance. The Dollar Index is posting what may be its biggest weekly loss since last November. The combination of the Federal Reserve not signaling an acceleration of normalization, while the market remains profoundly skeptical of even its current indications, and perceptions that the ECB and BOE can raise earlier than anticipated weighed on the dollar. The PBOC...

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FX Daily, March 16: Greenback Consolidates Losses as Yields Stabilize

The US dollar remained under pressure in Asia following the disappointment that the FOMC did not signal a more aggressive stance, even though its delivered the nearly universally expected 25 bp rate hike. News that the populist-nationalist Freedom Party did worse than expected in the Dutch elections also helped underpin the euro, which rose to nearly $1.0750 from a low close to $1.06 yesterday.

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FX Daily, March 15: Greenback Softens Ahead of FOMC

The US dollar is paring yesterday's gains as the market awaits the outcome of the well-telegraphed FOMC meeting. In recent weeks, the combination of data and official comments have swayed market, which had previously anticipated a hike in May or June.

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