currencies

Highlights The US dollar was stronger vs. the majors as pessimism with regards to Greece intensified yet again after Trichet and ECB offered little in the way of euro support (see below).  Risk off trading picked too late in the day…

Highlights The US dollar remains firm against most of the major currencies today as the participants await the ECB meeting, which given the events in Europe, is the most important meeting arguably since 2008.  There are three…

While Angela Merkel is off trying to sell the Greek aid package to German voters in the run-up to a crucial regional election in Germany, the markets have already voted on the 110 billion Euro EU/IMF deal: thumbs down. Win Thin of Brown…

Highlights The US dollar is firmer across the board.  The deal worked out by Greece and EU/IMF/ECB is helping to ease strains in the European debt market, but does not appear to have dealt a significant blow to those who think that…

Highlights The US dollar is surrendering its recent gains against most major and emerging market currencies today amid reports that new substantial Greek savings (24 bln euros) will be sufficient to spur a larger (100-120 bln euro) aid…

Highlights The US dollar is somewhat softer today as the market takes a pause to consider recent developments.  News that Fitch reaffirmed its AAA rating for Spain, despite S&P’s move yesterday, and heightened speculation that…

Well, I don’t know how many other people have noticed, but the Hungarian forint tanked today. This is the one I had been waiting for, and expecting. And precisely why did it tank? It tanked because Viktor Orban, Hungary’s…

Highlights The US dollar has recovered from the decline seen in North America yesterday against the major European currencies.   The take away from the price action is not however one of consolidation, but rather that good dollar…

This past weekend, German and French government officials took a hard line on aid to Greece, sending 10-year Greek bond yields to 12-year highs above 9%.  According to the Wall Street Journal,the spread in yields between 10-year Greek…

Highlights The US dollar was mostly softer vs. the majors on news that Greece requested that EU/IMF aid be activated.  EUR/USD rose on short-covering rally as a result, and came after it had earlier set a new cycle low at…