Sign in
Sign in
Recover your password.
A password will be e-mailed to you.
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 is broadly weaker today as is the Japanese yen as the latest bout of market anxiety eases. News that China indicated that it is not planning on selling its European bond holdings helped the euro recover…
Asian Security Issues May Undermine the Japan
Japan's DPJ government has been forced to back down on its campaign pledge regarding the moving of the US Marine Corp base in Okinawa. Prime Minister Hatayama's retreat may come at a high political cost. It appears to have…
Asian Central Banks Thought to Have Sold Dollars
Strong upward pressure on the dollar emanating from the European debt crisis and the tensions on the Korean peninsula apparently was countered by intervention from several Asian central banks. At one point the dollar was nearly 5.25%…
Dollar Races Higher
Highlights The US dollar is posting strong across the board gains. The sole exception is the Japanese yen, which is also benefiting from the heightened anxiety. There are three main drivers today. First, there is fear…
Euro: Is Move From May 10th Over? If So, then What?
On May 7th, the market covered some short euro exposure in anticipation of some sort of response by European officials. As we know they came up with a large package of guarantees (not just for Greece) and loans, and the ECB provided…
Euro Consolidates Close to $1.25, but Downside Risk Remains
Highlights The euro was confined within a $1.25-$1.26 range in the euro session, with intervention talk and hope (in vain) for new measure at today’s EU Fin ministers meeting leaving a slightly more bid sentiment in place. This is all…
ECB Intervention Unlikely
The euro has rallied about 1% and has spurred talk of ECB intervention. We are skeptical. There seems to be little reason to expect the ECB to intervene outside of its time zone in a unilateral fashion. Convention, we…
Europe Still in Denial
As noted in the daily, Eurogroup head and Lux Prime Minister Jean-Claude Juncker has played down need to intervene in the foreign exchange market, saying there was no need to defend the euro. Yet in the same interview, he claimed that…
BBH CurrencyView: Euro Gets Some Relief, for Now
Highlights We are seeing some respite for the euro but the underlying bearish forces have not gone away and this latest bounce is a good selling opportunity. The single currency rallied to a high $1.2437 in early European session (nearly…
Persevering Euro Weakness, German Naked Short-Selling Ban Stays in the Limelight
Highlights Euro weakness persevered into the European session, with Germany’s naked short-selling ban announcement still in the limelight (see below). The euro has broken through the $1.22 mark, down to a low $1.2144 in Asia - a…