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The dollar has continued its post-Fed announcement tumble, putting the narrow dollar index at three-week lows. EUR-USD has logged a new high of 1.1460 after breaching yesterday's peak at 1.1441. USD-JPY has logged a 10-day low at 119.05. The dollar has also trade at fresh lows against the commodity-bloc and emerging nation currencies. Read more
FX trade was uneventful through the morning session, with major dollar pairings sticking inside of very narrow ranges ahead of the FOMC announcement. Wall Street remained flat, while Treasury yields did little more than wiggle within a couple of basis point ranges. Read more
I would be a rich man if I had a penny for every letter written about the upcoming Federal Reserve decision. To hear analysts discuss it, you’d think the fate of the free world as we know it rests on every word and phrase the Fed will utter in its decision. Let me offer a different view: this is, without a doubt, the most meaningless Federal Reserve rate hike in history. Read more
The dollar has remained on a mixed footing into the Fed decision, extending declines against the euro while edging higher against an underperforming yen. The were few strong leads in Europe or Asia. Chinese stock markets closed in the red following a late-session dive, but most other Asian markets closed higher while European equities and S&P 500 futures have traded steadily. Read more
The yen has come under pressure amid a backdrop of firmer stock markets in Asia, which have followed Wall Street higher, while Japanese trade data showed an export rise of 3.1%, half the gain seen in July and prompting a downward trimming in Q2 GDP estimates. Read more
The dollar has traded mixed, gaining against an underperforming euro, rising versus sterling while posting modest gains versus the yen, which ebbed against most currencies amid stock market rallies in Asia and Europe. Chinese stocks rebounded strongly from Monday and Tuesday's steep declines, which led Asian and European markets higher. Read more
Major dollar pairings have been holding tight ranges, and while equity markets in Asia have followed yesterday's gains on Wall Street and in Europe, volumes have been low with investors hunkered down ahead of what will be a finely balanced decision by the Fed tomorrow. Read more
The dollar rallied broadly in N.Y. on Tuesday, aided by retail sales and production data, which were good enough to keep a Fed rate hike on the table for Thursday. In addition, stocks rallied, and yields moved higher, providing a safe environment for dollar bulls. Read more
I’m a big fan of analyzing market data from several different time frames, which helps to remove the “signal from the noise.” Using long-term data for China shows an incredibly average equity market: Read more
The yen was the star performer as capital sought havens amid another bout of China-led turmoil in stock markets. The Japanese currency rallied over 1% from its Tokyo low against the dollar, which saw USD-JPY dive to 119.40, subsequently settling around 119.70. Read more
