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USD Trades Heavier and Look for North America to Follow Suit

August 14, 2026
Tomorrow is the 55th anniversary of the end of Bretton Woods. R.I.P.  It was an economic agreement, pegging the dollar to gold and the other currencies to the dollar, and establishing the World Bank, and the International Monetary Fund. Ultimately, however, it was political in nature.  It was an exercise in the Golden Rule.  He with the gold makes…
USD Trades Heavier and Look for North America to Follow Suit USD Trades Heavier and Look for North America to Follow Suit Reviewed by Marc Chandler on August 14, 2026 Rating: 5
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Becalmed FX Market

August 13, 2026
The US dollar is mixed against the G10 currencies.  Despite yesterday’s constructive price action, there has been little follow-through buying today.  Mostly narrow ranges prevail.  While the Japanese government reported signaled acceptance of faster rate hikes, the greenback has held above JPY159 and the 10-year JGB yield edged higher. It has not…
Becalmed FX Market Becalmed FX Market Reviewed by Marc Chandler on August 13, 2026 Rating: 5
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US Dollar is Mixed Ahead of July CPI

August 12, 2026
The US dollar is mixed.  It is mostly softer against the G10 currencies, though sterling, the Australian dollar, and Japanese yen are slightly firmer.  The greenback is a bit weaker against most of the emerging market currencies. Of note, the PBOC set the dollar’s reference rate at a new 3.5-year low, and the Mexican peso is at its best level sinc…
US Dollar is Mixed Ahead of July CPI US Dollar is Mixed Ahead of July CPI Reviewed by Marc Chandler on August 12, 2026 Rating: 5
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Parallel Play or Joint Intervention?

August 11, 2026
The Bank of Japan intervened in the foreign exchange market in late July. Initial indications put the operation at roughly JPY8.45 trillion, near $52.8 bln, as the dollar approached JPY164. The mechanics repeated a pattern seen in January. The Federal Reserve reportedly checked on rates, which is routine. What was not routine is that it did so on …
Parallel Play or Joint Intervention? Parallel Play or Joint Intervention? Reviewed by Marc Chandler on August 11, 2026 Rating: 5
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Hope of Re-Opening the Strait of Hormuz Fades and Markets Test Resolve of Putting Floor Under the Yen Hope of Re-Opening the Strait of Hormuz Fades and Markets Test Resolve of Putting Floor Under the Yen Reviewed by Marc Chandler on August 11, 2026 Rating: 5
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Market Challenges US-Japan Resolve on Yen and Tehran Challenges US Resolve to Re-Open Strait of Hormuz Market Challenges US-Japan Resolve on Yen and Tehran Challenges US Resolve to Re-Open Strait of Hormuz Reviewed by Marc Chandler on August 10, 2026 Rating: 5
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Week Ahead: Soft CPI to Follow Disappointing US Jobs Report

August 08, 2026
The market has not been comfortable since the Federal Reserve meeting at the end of July. Despite the lip-service paid to the Fed's price stability mandate, only three officials favored doing something (raising rates) about it. It was hardly a coincidence then that the media reported that people close to the Fed chair said that a further incre…
Week Ahead: Soft CPI to Follow Disappointing US Jobs Report Week Ahead: Soft CPI to Follow Disappointing US Jobs Report Reviewed by Marc Chandler on August 08, 2026 Rating: 5
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