currencies

Highlights The US dollar was mostly softer vs. the majors, but remained in narrow trading ranges as both UK and US markets were closed for holidays.  While the euro saw a brief respite, we believe that the negative news stream will…

Increasingly policy makers and investors are thinking about the consequences of the European financial crisis. The following focuses on two such consequences that are unlikely to appear on other lists.

The euro has surrendered its earlier gain, dropping a full cent from the session highs set in early Europe just above $1.2450. The short-term technical indicators were a bit stretched, but the proximate cause seems to be news from the…

The US dollar is mostly little changed today. The main feature is the covering of short euro positions and this has lifted the single currency to new four-day highs against the dollar. As we have noted in recent days, its downside momentum…

Frederick Sheehan is the author of Panderer to Power: The Untold Story of How Alan Greenspan Enriched Wall Street and Left a Legacy of Recession  (McGraw-Hill, 2009). A speech delivered at the Ludwig von Mises Institute Conference:…

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…

Bill Gross is a bond guy. And in the bond world, the return of capital counts for a heck of a lot more than the return on capital. So, naturally, with debts being socialized from the private to the public sector, Gross has been asking…

Nothing is so bad, that it isn't good for something. So goes an old adage in my home country (and I would imagine elsewhere too) and perhaps if hard-burdened Eurozone policy makers and investors are finding it hard to find any kind…

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…

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%…