The yen has retraced some of its recent losses against the dollar, but expectations of a strong U.S. consumer confidence number are keeping the dollar broadly supported.
More Quotes from Ian Stannard:
This adds to the impression that Asian central banks are going to be prepared to raise interest rates, and ultimately allow more strength in their currencies.Ian Stannard
If we see inflation to continue to come in on the soft side, then the market will intensify its speculation that the peak in U.S. rates is quite close.
Ian Stannard
This is the worst outcome possible for the euro. Not only is there no clear winner, it will be difficult for either side to form a coalition and there seems to be hostility to the idea of a grand coalition. It looks as if it could drag on for weeks if not months and that uncertainty is the worst thing for markets,
Ian Stannard
The news from the U.S. continues to come out encouraging for the dollar,
Ian Stannard
The reform mandate is probably not going to be as strong as it would have been under an outright victory by Merkel.
Ian Stannard
Failure to meet market expectations here will reinforce the market perception that the peak in US rates is clear, putting the dollar under renewed pressure.
Ian Stannard
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