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"Sterling." tag

Trade Featured as Dollar Drifts Lower

The US dollar has a slightly lower bias today, but the against most of the major currencies, it is consolidating within the range set at the end of last week. The main exceptions are sterling...


Sterling, McCafferty, and BOE Policy

Sterling’s advance today is being attributed to comments by a member of the Bank of England’s Monetary Policy Committee McCafferty. However, we suspect it was a news item that was used to justify the price...


Carney’s Reversal Lights Fire Under Sterling

Bank of England Governor Carney said shortly after the 5-3 vote at the MPC that now was not the time to increase interest rates. Today sterling is flying. It is posting the largest gain in...


Thoughts on the Price Action

The market has not changed its mind. Following Brainard’s comments yesterday the market had downgraded the chances, which were already modest, of a Fed hike next week. The September Fed funds futures is unchanged on...

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Yen and Dollar-Bloc Sink, while Sterling Ticks Up

The run on the yen continues.The US dollar and euro are at new multi-year highs against the yen.  The BOJ confirmed its JPY80 trillion monetary base target unexpectedly adopted at the end of last month....