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Author
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.
Highlights The US dollar remains on its back foot. The main driver remains the contrast between the likely trajectory of Fed policy in contrast to the ECB. Moody’s 1-notch downgrade of Spanish credit rating and news that Anglo-Irish needs…
Dollar Soft on Interest Rate Spreads
Highlights The US dollar remains soft, but the downside momentum seen in recent days appears to be ebbing as new catalysts are awaited. The dollar’s slide is not over and bounces are expected to be shallow and short-lived. The main…
Stat of the Day: Belgium worst-performing euro zone bonds
Belgium has a caretaker government. It has been unable to form a government since the June election after the previous government collapsed in April. The Netherlands is also struggling to put a coalition together. Italy comes to the fore…
Second Largest Consumer Lender Bankruptcy in Japan
Earlier today, Japan's second largest consumer lender, Takefuji sought legal protection of bankruptcy. The source of its woes, and apparently others in that space, is that the borrowers were overcharged interest. Japan's regulator says that…
Sterling Outperforms On Back Of Strong British GDP Numbers
Highlights The US dollar initially extended yesterday’s recovery, but reverse lower in Europe, despite elevated tensions in the periphery of Europe. Optimistic comments by ECB’s Stark, seeming to signal another step on the exit strategy,…
Is Brazil Considering Encaje-Type Approach To BRL Strength?
from BBH's Win Thin on capital controls in Brazil Finance Minister Mantega said that Brazil is considering a tax on short-term fixed income investments but not on long-term. No further details were given, but he noted that the central bank…
Color on the Currency Reform for Fair Trade Act
The US House Ways and Means Committee approved the Currency Reform for Fair Trade Act before the weekend. The full House of Representatives will vote on the measure, and likely approve it on Wed. It then goes to the Senate. The Senate…
India, Brazil, Mexico Update
India: Earlier today India lifted the cap on foreign ownership of government and corporate bonds. This had been anticipated, but it runs counter to the rash of media reports suggesting that rise of beggar-thy-neighbor policies…
Color on Weekly Jobless Claims
The weekly jobless claims are not often the stuff that moves the foreign exchange market, but the disappointment with today's data is noteworthy and hitting the the fx market as the foreign currencies began recovering from the profit-taking…
Weak Economic Reports Send Dollar Higher
Highlights The US dollar is recouping some of its recent losses against most of the major and emerging market currencies. Softer than expected New Zealand GDP, followed by the disappointing euro zone flash PMI, the renewed widening of…