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April 2024 Monthly

March 30, 2024
The macroeconomic and geopolitical developments have not changed substantially over the past month. The resilience of the US economy allows the Federal Reserve to put more emphasis on achieving price stability. While the market favors a June cut (66% vs. 80% at the end of February), it has not been fully discounted for over a month. The biggest ev…
April 2024 Monthly April 2024 Monthly Reviewed by Marc Chandler on March 30, 2024 Rating: 5
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Waller Pushes on Open Door: Push for Patience Lifts the Dollar, Complicating Japanese Efforts Waller Pushes on Open Door: Push for Patience Lifts the Dollar, Complicating Japanese Efforts Reviewed by Marc Chandler on March 28, 2024 Rating: 5
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Heightened Threat of Japanese Intervention Pushes Greenback Away from JPY152

March 27, 2024
Overview: The dollar neared JPY152, setting a new 34-year high. This appeared to spur a senior official meeting in Tokyo, ostensibly to talk about the response. Previously, we suggested that Friday, when most markets outside of Asia will be closed, could provide an interesting opportunity for intervention. The implicit threat was enough to take th…
Heightened Threat of Japanese Intervention Pushes Greenback Away from JPY152 Heightened Threat of Japanese Intervention Pushes Greenback Away from JPY152 Reviewed by Marc Chandler on March 27, 2024 Rating: 5
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Dollar's Recent Gains Pared but Firm Undertone Remains Intact

March 26, 2024
Overview: After surging at the last week, the dollar consolidated yesterday and is continuing to do so today as slightly lower levels. The Swiss franc is the only G10 currency unable to gain traction against the greenback today. Still, the dollar's pullback has barely met the minimum retracement targets of the jump last Thursday and Friday. Th…
Dollar's Recent Gains Pared but Firm Undertone Remains Intact Dollar's Recent Gains Pared but Firm Undertone Remains Intact Reviewed by Marc Chandler on March 26, 2024 Rating: 5
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Greenback Consolidates Last Week's Surge

March 25, 2024
Overview: After surging at the end of last week, the dollar is consolidating today. Stepped up verbal intervention by Japan's currency chief Kanda and a slightly weaker dollar fix by the PBOC seemed to take the wind from the dollar sails. Except for the Swiss franc and Swedish krona, the G10 currencies are showing a slightly firmer tone. Emerg…
Greenback Consolidates Last Week's Surge Greenback Consolidates Last Week's Surge Reviewed by Marc Chandler on March 25, 2024 Rating: 5
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Week Ahead: Enthusiasm for the Dollar Rekindled

March 23, 2024
Last week will be remembered for several things. First, the Bank of Japan lifted its interest rate target for the first time in 17 years and formally ended its Yield Curve Control and ceased buying ETFs. The yen sold off and the dollar approach the 2022 and 2023 cap slightly below JPY152. Japanese officials have used the language that has signaled…
Week Ahead: Enthusiasm for the Dollar Rekindled Week Ahead: Enthusiasm for the Dollar Rekindled Reviewed by Marc Chandler on March 23, 2024 Rating: 5
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