currencies

Exports are still falling on a year-over-year basis, but at a slower pace. Imports are still rising, but here too the pace is slowing. The swing into trade deficit for Japan happened from both sides. Exports were squeezed by the…

The dollar is broadly higher today, and reflects a Turnaround Tuesday from the previous two days of dollar weakness. Italy's Monti has won well-deserved praise since replacing Berlusconi, but his most challenging test begins in earnest…

The Australian dollar held support in the middle of last week near $1.04. Japanese retail and institutional investors, always yield hungry have taken a new look, especially as they begin trying to diversify away from the Brazilian cash…

Germany and Papademos have ended Greece’s political sovereignty, but Greece gave up its economic sovereignty long ago when it adopted the euro. Two aspects of national economic sovereignty were inherently lost with nations that gave up…

The dollar is trading modestly firmer against the majors in very narrow ranges, gaining some traction after the losses seen Thursday.

One of the most important developments in the foreign exchange market is the fragmentation of the risk-on/risk-off matrix that was a key feature since the onset of the financial crisis. While cognizant of the non-linear nature of the…

The US dollar is mixed after the broad dollar rally is losing steam into the North American open. The euro zone is on the back burner for now. Indeed, the recent back up in US yields over such a short time period has been astounding. Even…

The FOMC did tweak its outlook but maintained its pledge to keep rates low through 2014. February retail sales were stronger than expected. Equities rallied sharply as a result and, more importantly, the US Treasury market sold off. With…

The Greek government said PSI went through with a 95.7% participation rate after CACs were activated. Before the CACs, however, that rate was only 85.8%. ISDA’s determinations committee will decide today at 08:00 EST whether a credit event…

The dollar is weaker against most major and EM currencies with Greece still the major focus. The euro broke above 1.32 against the dollar in the European morning as it becomes evident that the Greek PSI deal will likely go through, as we…