Tony Norfield Quotes (11 Quotes)

We don't have much of a history that would tell us what the ECB is going to do. All sorts of scenarios are possible.

The U. S. economy is showing no signs of losing steam. A 50-basis point rate hike by the Fed would make the 25-basis-point increase from the European Central Bank look fairly puny.

We have a bit of a conflict between the cyclical factors, which are still reasonably positive for the dollar, and structural worries that are going on.

It's an incremental step to develop its foreign-exchange market and make its currency more transparent. The central bank has been heavily involved in the market and will probably still intervene.

The dollar started a bit stronger today, then weakened a bit after the broadcasting of the bin Laden audio tape.

This is unlikely to be a significant negative for the dollar. They're unlikely to start moving heavily out of dollars as U.S. assets still yield more than in Europe or other countries.

If the euro got to test parity against the dollar, then the ECB would be honor-bound to step in.

This is screwed up big-time, the whole intervention program. It's possible that there will be more intervention, but it's unlikely the U.S. will join in again.

It highlights that a great deal of investment is flowing out of the euro area and into the U.S., the U.K. and elsewhere.

It's another case of euro-optimism being dashed by events,

As for economies on the other side of the Atlantic, there have been signs euro zone growth has peaked and inflation pressures coming through, ... That pinpoints the fact that there is far less dynamism across the euro-zone economies than in the U.S.