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CNY7.20 Gives Way as Strong Greenback Proves Too Much

March 22, 2024
Overview: The dollar's post-FOMC sell-off has been completely reversed and the greenback has reached new highs for the week against most of the G10 currencies. Heightened intervention fears and softer US yields has helped steady the yen, which near unchanged now, and is the best performer. The Scandis and Antipodeans are the heaviest, off 0.65…
CNY7.20 Gives Way as Strong Greenback Proves Too Much CNY7.20 Gives Way as Strong Greenback Proves Too Much Reviewed by Marc Chandler on March 22, 2024 Rating: 5
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Market Hears a Dovish Fed and Sells the Greenback

March 21, 2024
Overview:  The Federal Reserve triggered a dollar sell-off yesterday and follow-through selling was seen in Asia before profit-taking emerged. That created a new dollar selling opportunity in early European turnover. The FOMC revised up this year's growth forecast, shaved the unemployment projection, and while maintaining the PCE deflator fore…
Market Hears a Dovish Fed and Sells the Greenback Market Hears a Dovish Fed and Sells the Greenback Reviewed by Marc Chandler on March 21, 2024 Rating: 5
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Dollar Extends Gains Against the Yen but Broadly Firmer Ahead of the FOMC Dollar Extends Gains Against the Yen but Broadly Firmer Ahead of the FOMC Reviewed by Marc Chandler on March 20, 2024 Rating: 5
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Greenback Surges after BOJ Hikes and Ends YCC and RBA Delivers a Dovish Hold Greenback Surges after BOJ Hikes and Ends YCC and RBA Delivers a Dovish Hold Reviewed by Marc Chandler on March 19, 2024 Rating: 5
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Heightened Speculation of a BOJ Move Tomorrow did not Stop the Nikkei from Rallying or Yen from Slipping Heightened Speculation of a BOJ Move Tomorrow did not Stop the Nikkei from Rallying or Yen from Slipping Reviewed by Marc Chandler on March 18, 2024 Rating: 5
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Week Ahead: Central Banks

March 16, 2024
There has been a dramatic adjustment to US rates. The two-year yield was near 4.40% before the US employment report on March 8 and it reached near 4.73% before the weekend. The 25 bp surge is the largest weekly increase since last May. For the first time in four months, the Fed funds futures strip no longer has at least three rate cuts discounted.…
Week Ahead: Central Banks Week Ahead: Central Banks Reviewed by Marc Chandler on March 16, 2024 Rating: 5
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Euro's Recovery to $1.09 Looks Vulnerable while Yen Falls to New Lows for the Week After Strong Pay Raises Confirmed Euro's Recovery to $1.09 Looks Vulnerable while Yen Falls to New Lows for the Week After Strong Pay Raises Confirmed Reviewed by Marc Chandler on March 15, 2024 Rating: 5
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