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Marc Chandler 872 posts 0 comments
Marc Chandler joined Brown Brothers Harriman in October 2005 as the global head of currency strategy. Previously he was the chief currency strategist for HSBC Bank USA and Mellon Bank. In addition to frequently providing insight into the developments of the day to newspapers and news wires, Chandler's essays have been published in the Financial Times, Barron's, Euromoney, Corporate Finance, and Foreign Affairs. Marc appears often on business television and is a regular guest on CNBC and writes a blog called Marc to Market. Follow him on twitter.
With the long await Fed decision behind, what are the likely implications of Fed’s new round of asset purchase, dubbed QEII? The Fed’s announcement of $600 bln in assets was not much a surprise but the details within the statement provided…
Next Up – BoE and ECB
Highlights The dollar weakness after the FOMC gave way to a pretty steady and small trading range through the Asian session. But the dollar experienced a sharp selloff in the European session as investors further increased their…
Fed QEII: $600 bln over Next 8 Months (Anti-climatic?)
The dollar has sold off on the news that the Federal Reserve will buy $600 bln of Treasuries over the next 8 months. It will relax its 35% self-imposed limited per security. This is in addition to the $35 bln per month it…
Euro-Dollar Update
We identified and continue to track key forces that offer insight into the euro dollar exchange rate. To monitor the near-term trend, we have used the 5 and 20 day moving averages. They have done a fairly good job of capturing this year's…
Dollar Yawns after Elections Awaiting FOMC
Highlights The dollar was mostly flat in a quiet Asian session with the Tokyo markets closed, even though the dollar experienced sharp losses versus sterling and kiwi. The outcome of the Federal Reserve’s FOMC meeting is also weighing…
China Approves Hong Kong Monetary Authority to Buy Chinese Securities
There are two developments in China to note: The yuan appreciated in the spot market earlier today, after staging a relatively large decline yesterday. At today's best dollar level, the yuan had weakened about 0.85% against the…
As US Gears Up For Midterms, Dollar is Trading Heavy
Highlights The US dollar is trading heavily though within the recent ranges against most of the major currencies ahead of the conclusion of the FOMC meeting which is widely expected to result in a new round of long-term asset…
Greek Woes
Sunday Greek deputy Prime Minister Pangalos told a local paper that in theory debt restructuring should not be completely ruled out, though the deficit would need to be dealt with first. He argued against "demonizing" debt…
Dollar Begins Busy Week on Backfoot
Highlights The US dollar starts a critical week on the defensive. A new round of long-term asset purchases by the Federal Reserve coupled with a stronger than expected Chinese PMI weighed on the dollar and encouraged purchasing of…
Another Piece of the Yen Puzzle
Investors and policy makers alike are befuddled by the yen. Its strength continues to defy the traditional explanatory models that typically give a privileged position to risk appetite, interest rate differentials, or external positions.…