More tightening is still needed. The Fed has to consider the election calendar. They can't delay until late summer or fall, when it might be politically more difficult.
More Quotes from David Gilmore:
It's become virtually an unprofitable period for most institutions trading major currencies and government bonds. The real opportunity has come from commodities, global equities and emerging markets.David Gilmore
The Federal Reserve is nearing the end of its tightening cycle, and the European Central Bank could tighten more.
David Gilmore
Europe has double-digit unemployment and no inflation problem, ... Any European Central Bank tightening will be swamped by much more from the Fed.
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Change is difficult. But I will make you one promise. When we are finished here, I believe everyone involved will be pleased to have gone through the struggle -- because life will be better.
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You would have to be blind, deaf and dumb not to see that as pointing to a direction for the dollar.
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Removing currency risk is key to getting Japanese investors to buy U.S. assets, which will help keep U.S. interest rates down.
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