The Fed is probably going to hold to see how the economy plays out. There's even some concern the U.S. economy had already started to slow down before the hurricane. If that's the case, it's quite bearish for the dollar.
More Quotes from Greg Gibbs:
The sharp rally in the yen last week may not last. There is chatter about an impending policy tightening by the BOJ, but this is still around six months away at least.Greg Gibbs
The RBNZ has been talking the currency down for over a year and certainly won't discourage further falls. A negative trend in the currency has taken hold and the presumption that the economy will struggle this year, without a much lower currency, will kee
Greg Gibbs
The currency and rate futures markets are pricing in a rate hike by year-end and two by the middle of next year and this is why the euro has strengthened, especially against the yen,
Greg Gibbs
A lot of the good news is already priced into the Canadian dollar. It's possible before the year is out that the hurricane season will be over, the Federal Reserve will still be hiking rates, and oil prices will come off, helping take some of the juice out of the Canadian dollar.
Greg Gibbs
The hopes were not high for a clear winner based on polls last week, but the poor showing of the CDU suggests the German people were against further pro-business reforms.
Greg Gibbs
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