The trend is still consolidation for the dollar because we saw a lot of weaker-than-expected data from the States at the beginning of this year. |
The widening trade deficit is negative for the dollar. We see no way for the U.S. trade gap to narrow. |
The yen will be the loser among the major currencies. The BOJ is unlikely to raise rates next year while other central banks are increasing rates. The rate-gap story continues to lure investors away from the yen. |
This is not the kind of investment they can keep on going, given the sheer scale of it and concerns about high oil prices and their impact on the global economy and corporate earnings. |
What we saw in Tokyo today shows that a small consolidation in the dollar is likely because of this technical resistance. |
What's on peoples' minds is the possibility of a slowdown of the U.S. economy given the accumulation of rate hikes in the past year and a half and on higher oil prices, |
What's on peoples' minds is the possibility of a slowdown of the U.S. economy given the accumulation of rate hikes in the past year and a half and on higher oil prices. |