Boris and Kathy Forex Weekly – 18/7/2016 – Commodity Dollars
July 17, 2016 11:08 pm
Boris and Kathy Forex Weekly – 18/07/2016 – Commodity Dollars
What a difference a week makes! Sterling went from hitting new lows versus the U.S. dollar to rising strongly against the greenback. USD/JPY looked like it was going to make another run below 100 but instead soared above 106 last week. The main stories for the U.K., Japan and U.S. have not changed but investors are finally waking up to the reality that Bank of England and Bank of Japan easing is near. The Federal Reserve may not raise interest rates this year but U.S. policymakers are optimistic on the labour market and believe that the impact of Brexit on U.S. growth will be limited. U.S. stocks also hit record highs on a near daily basis, providing support to risk currencies. In the coming week, the real test will be whether risk appetite can be sustained. If stocks continue to rise, the currencies that strengthened last week will continue to move higher but if they peak, reversals will be seen.
Boris and Kathy Forex Weekly – 18/07/2016 – Commodity Dollars
What a difference a week makes! Sterling went from hitting new lows versus the U.S. dollar to rising strongly against the greenback. USD/JPY looked like it was going to make another run below 100 but instead soared above 106 last week. The main stories for the U.K., Japan and U.S. have not changed but investors are finally waking up to the reality that Bank of England and Bank of Japan easing is near. The Federal Reserve may not raise interest rates this year but U.S. policymakers are optimistic on the labour market and believe that the impact of Brexit on U.S. growth will be limited. U.S. stocks also hit record highs on a near daily basis, providing support to risk currencies. In the coming week, the real test will be whether risk appetite can be sustained. If stocks continue to rise, the currencies that strengthened last week will continue to move higher but if they peak, reversals will be seen.
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