Author : Marc Chandler

In an unusual development, sterling is outperforming today.  It rose to a four-day high near $1.4230 on what appears to be mostly modest position adjustment in relatively subdued turnover. ...

Some dovish signals from the Fed and a bounce in oil prices helped EM end last week on a firm note.  This week, the US retail sales report could...

Over the past three months and the past month, the dollar has fallen against all the major currencies but the British pound.  Sterling's underperformance can largely be explained by...

Speculators in the futures market were not particularly active in Commitment of Traders reporting week ending April 5.  There was only one gross position adjustment which we regard as...

Although there is no convincing technical evidence that dollar's retreat in Q1 is over, we suspect it is nearly complete.  We will be especially sensitive to reversal patterns, divergences...

In the EM local currency bond space, the Philippines (10-year yield -9 bp), Mexico (-5 bp), and Ukraine (-4 bp) have outperformed this week, while Peru (10-year yield +21...

In the first quarter, there was some speculation that currency pegs in either the Middle East or Hong Kong were going to give way.  We argued that the pegs...

The surging yen has been the main feature in the foreign exchange market in recent days, but its advancing streak has been stopped with today's setback.  The greenback traded...

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...

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,...