The pendulum has swung back in favor of a March rate hike. The dollar-bull camp is based on the interest-rate differentials. They have really renewed their widening.
More Quotes from Marc Chandler:
Through this tightening cycle the market has looked at every opportunity to say the Fed is done. The Fed is not done until the market gets ahead of the Fed and it is not there yet.Marc Chandler
It's unreasonable to expect currency movements to affect trade balances when you have all these other disequilibria like wages.
Marc Chandler
Although its reserves are meager (4.5 billion), it is part of the steady stream of such news.
Marc Chandler
I'd say hedging has nothing to do with what we've seen in the trade data.
Marc Chandler
We still don't know how many more rate hikes there are in the cycle and the minutes don't really shed light on that. But rate hike increases are probably not large.
Marc Chandler
I see no officials saying a war is less likely. I don't think the protesters in Western Europe and the U.S. are enough to change policy makers' minds.
Marc Chandler
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