With the strong labor report, strong retail sales, and the strong inflation report, market expectations of a sustainable U.S. recovery have increased.
More Quotes from Stephen Jen:
It's all a very incremental process. They want to rebalance the capital inflows and outflows. Without a balance in flows, you wouldn't want to let the exchange rate find its own place.Stephen Jen
I strongly doubt that this will be the beginning of wholesale diversification from U.S. dollars.
Stephen Jen
The Europeans don't care as much about the yuan because the issue is trade and their deficits with the Chinese are much smaller than the U.S.'s.
Stephen Jen
(After this week's Fed speakers) the bottom line is we will most likely know what the Fed will do before September 20. My ... hypothesis is the Fed will maintain its tightening path, uninterrupted.
Stephen Jen
Regardless of the decision on the euro, the U.K. is becoming so well integrated into the euro economy that investors are willing to invest in the pound as a proxy. That has made the pound surprisingly resilient.
Stephen Jen
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