Currencies

The yen is the strongest of the major currencies.  It has gained about 0.65% against the dollar.  It has been grinding lower throughout the Asian and European session and has remained in narrow ranges near its highs in the US...

The US dollar is mostly weaker today.  It appears to be consolidating the gains scored since the reversal on May 3. Sterling and the Australian dollar are leading the way early in Europe.  The US dollar is mostly weaker today. ...

The US dollar continued the recovery begun May 3 and rose against most of the major currencies over the past week.  A nearly 3.5% rally in oil prices, the fifth weekly gain in the past six weeks (a $9.5 advance...

The Japanese yen is recovering from two-day two percent decline.  The yen is the strongest of the majors today, rising about 0.6%.  The greenback initially extended its gains marginally in early Tokyo before the selling pressure emerging.  The price action...

Sometimes the mountain looks clearer from the plain the summit to paraphrase an American-Lebanese poet.  The dollar appears to have entered a new phase on May 3.  On that day, it reversed higher against the euro, yen, and sterling for...

It has been painful trying to pick a bottom of the US dollar against the Canadian dollar.  Now a 4-5 point downtrend from the secondary high in late-January is being violated today.  It is found near CAD1.2785 today.  Intraday penetration...

In quiet turnover, with China, Hong Kong, Singapore and London markets closed, the US dollar is trading with a heavier bias against all the major currencies.  Lower commodity prices, including oil and copper, appears to be taking a toll on...

Speculators in the futures market continued to press a bearish view of the US dollar the CFTC reporting week ending April 19.  According to the Commitment of Traders report, speculators added to their gross long currency futures position in seven...

The US dollar turned in a mixed performance last week, which given the softer than expected inflation, retail sales data, and industrial output figures, coupled with the poor technical backdrop, could be a signal that its decline in recent months...

At the IMF/World Bank meetings this week, Chinese officials are again pushing for greater use of the IMF's unit of account, Special Drawing Rights.  It is China's turn as the rotating host of the G20, which gives it greater influence...

Every so often, a market move appears inexplicable.  The conundrum now is the yen's strength.  Of course, there are numerous attempts shed light on the yen's rise, but many, like ourselves, are not very satisfied.  Perhaps part of the problem...

There are three highlights to the foreign exchange market today.  First, the yen is marginally softer.  The yen's strength this month has been the main development.  After making a marginal new high yesterday, some semblance of stability emerged in North...

The yen's surge may be easing.  It made a new marginal high in Asia, but it was unsustainable.  Technically, a hammer candlestick pattern may be traced out by the greenback's recovery today.  Supporting the greenback is the movement in interest...

The yen's surge in recent days has captured the attention of investors and policymakers alike.  It is indeed unsettling and seems to run counter to the economic logic negative interest rates, which the BOJ surprised the market with at the...

The main feature in the foreign exchange market continues to be the surge of the Japanese yen.  A convincing explanation of the yen's strength seems elusive.  Until last week, which means through the fiscal year-end last month, Japanese fund managers...