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The won's FX peer group Before looking at the benefits of these proposed reforms, perhaps we should be asking what success would look like. For examp
US dollar sell-off resumes Dollar dips as inflation fears abate Benign US data eased inflation nerves overnight, lifting risk sentiment and pushing US yields lower. That was enough to spur a sell-off in the US dollar as investors moved positioning once again, out of haven greenbacks. The dollar index fell by 0.47% to 89.75, where it remains in Asia. Despite the volatility of the week, the dollar index has traded in a choppy 89.70 to 90.20 range, with plenty of whip-sawing for anyone looking for it. A close below 89.70 for the week will signal the US dollar sell-off will resume next week. T...
Currency markets seek direction Currency markets content to watch from the sidelines Currency markets have moved into range-trading mode ahead of tonight’s US data, with US bond yields almost unchanged overnight, and no direction to be gleaned from equity markets either. The dollar index eased slightly by 0.11% overnight but has risen 0.12% to 92.25 this morning, leaving us where we started yesterday. Unsurprisingly, that has left developed market currencies almost unchanged as well, with EUR/USD steady at 1.1890, GBP/USD at 1.3735, and USD/JPY at 109.65. Key levels remain for EUR/USD at 1....
US dollar pummelled Surge in risk sentiment sends US dollar reeling The US dollar wilted overnight before the onslaught of bullish risk sentiment that swept Wall Street after Friday’s Non-Farm Payrolls and the overnight ISM Non-Manufacturing PMI data. The dollar index fell 0.47% to 92.57, although it has recovered slightly in Asia to 92.68. Notably, despite the robust ISM data and aggressive equity rally, US yields drifted lower, undermining US dollar support. The fall overnight leaves the dollar index not far from its 92.50 pivot point, and a daily close below that suggests a deeper retrac...
The US dollar retreats US dollar dips as inflation concerns ease The US dollar headed south overnight, unable to hold onto recent gains as inflation fears temporarily subsided as the 30-year bond auction passed without incident, and a fall in US jobless claims turned attention back to recovery. The dollar index fell 0.44% to 91.45, although dollar short-covering has lifted it back to 91.55 in Asia. EUR/USD negotiated the ECB meeting with aplomb, rising 0.45% to 1.980 overnight, and is seemingly out of the woods for now. A similar story has played out with GBP/USD and USD/JPY. The under-pressu...