Boris and Kathy Forex Weekly – 29-10-2018 – Majors
October 28, 2018 10:38 pm
It was a brutal week for equities with the Dow Jones Industrial Average falling more than 3% and the S&P 500 slipping 4%. This is the fourth out of five weeks that the S&P 500 has fallen. Typically when we see such sharp declines in equities and increase in day to day volatility, currencies are punished broadly. However some but not all of the major currencies experienced losses over the past week – sterling and the New Zealand dollar fell sharply but the Canadian dollar and Swiss Franc were unchanged while the Japanese Yen appreciated against all of the major currencies.
It was a brutal week for equities with the Dow Jones Industrial Average falling more than 3% and the S&P 500 slipping 4%. This is the fourth out of five weeks that the S&P 500 has fallen. Typically when we see such sharp declines in equities and increase in day to day volatility, currencies are punished broadly. However some but not all of the major currencies experienced losses over the past week – sterling and the New Zealand dollar fell sharply but the Canadian dollar and Swiss Franc were unchanged while the Japanese Yen appreciated against all of the major currencies.
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