The euro has been the victim of an ever widening interest-rate differential to the dollar, a dynamic that has hurt the currency over the past six months as the carry spread now stands at 175 basis points against it.
More Quotes from Boris Schlossberg:
Comments from various Japanese authorities suggest that the zero interest rate policy may remain in place longer than the market anticipates.Boris Schlossberg
With little help from monetary officials, yen bulls will now have to look to the rise in the yield of 10-year Japanese government bonds above the psychologically important 2 level as a possible trigger for yen strength.
Boris Schlossberg
If the data starts to taper off, the market will begin to handicap a 5 percent top in interest rates. That would weigh heavily on the dollar.
Boris Schlossberg
The market is likely to go into a pre-jobs stall, from here on. If payrolls don't perform as the market expects, the euro could gain even further as that would put enormous pressure on the Federal Reserve to stop raising interest rates sooner than expected.
Boris Schlossberg
The Canadian dollar is relentless moving forward. You also have very steady economic growth and a strong commodities cycle.
Boris Schlossberg
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