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  • Falling Japanese Yen as Canary of a Changing World Order

    The collapse of the Japanese yen continues, and so far, there are no signs of a trend reversal. The rise in the Yen is often linked to capital flight from risky assets, and the weakening is a sign of increased demand for risky assets. But that explanation hardly fits with what is happening now. We…

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  • High UK Inflation Erodes Confidence in the Bank of England

    After the traditional January reset, UK consumer prices continued their flight. Morning data showed that CPI rose by 0.8% last month and 6.2% year-over-year. This data is 0.2 percentage points above market expectations, indicating that prices rise faster than initially forecast. Last week the Bank of England indicated that inflation could peak near 8% but…

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  • US oil inventories dropped -2.5m barrels, WTI extending rebound

    US commercial crude oil inventories dropped -2.5m barrels in the week ending March 18, larger than expectation of -0.7m decline. At 413.4m barrels, oil inventories are about -13% below the five year average for this time of year. gasoline inventories dropped -2.9m barrels. Distillate dropped -2.1m barrels. Propane/propylene rose 0.3m barrels. Total commercial petroleum inventories…

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  • Pound Slips as Inflation Surges

    UK inflation outperforms The markets were bracing for inflation to accelerate in February, and the readings were even higher than expected. CPI hit 6.2% YoY, a new 30-year high. This was up from 5.5% in January and above the consensus estimate of 5.9%. Core CPI rose 5.2%, up from 4.4% and ahead of the forecast…

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  • Japanese Yen Steadies

    March has been a sea of red for the Japanese yen, as USD/JPY has soared 5.04% this month. The currency is steady on Wednesday, after breaking above the 121 line earlier in the day. Rate differential weighing on yen The yen took a double-punch in the ribs on Tuesday, as USD/JPY jumped 1.14%. Central bankers drove…

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  • Dollar Drifts Higher as Monday Rebound Fails to Convince; Fed, German Ifo Eyed

    Investing.com -- The dollar pushed higher in early dealings on Tuesday, as the violent snap back in U.S. stocks in the second half of Monday’s trading failed to convince global markets that the recent volatility has run its course. Risk aversion was in evidence across equity and commodity markets in Asia and Europe, nudging the dollar index back…

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  • Dollar Lower as Longs Head For The Exit

    Investing.com - The U.S. dollar weakened in early European trade Friday, heading for its worst week in more than a year as traders now consider Federal Reserve interest rates hikes this year as being fully priced in. At 2:55 AM ET (0755 GMT), the Dollar Index, which tracks the greenback against a basket of six…

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  • Dollar Down, but Gains Against Yen, as Investors Await Latest U.S. Jobs Report

    Investing.com – The dollar was down on Friday morning in Asia but set for a fifth consecutive weekly gain on the Japanese yen. This rally could be extended if the latest U.S. jobs report justifies early Federal Reserve interest rate hikes. The U.S. Dollar Index that tracks the greenback against a basket of other currencies inched down…

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  • Dollar Up, Investors Digest Mixed Fed Comments on Inflation

    Investing.com – The dollar was up on Thursday morning in Asia as investors digested mixed signals from U.S. Federal Reserve officials regarding the timeline of stimulus measures changes. The US Dollar Index that tracks the greenback against a basket of other currencies inched up 0.05% to 91.828 by 11:14 PM ET (3:14 AM GMT). The USD/JPY pair inched up…

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  • Treasury Yields Jump as Fed Officials Signal Speedier Hikes

    (Bloomberg) -- The 10-year Treasury yield climbed after Federal Reserve policy makers surprised markets and signaled two quarter-point rate hikes by the end of 2023. Ten-year yields rose five basis points to 1.54%, extending a rebound from a three-month low of 1.427% touched last week, as it touched the highest since June 8. The projections of when…

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