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FX Daily
March 24, 2015 Posted by
San Francisco Fed President John Williams delivered prepared remarks in Sydney today stating U.S. policy tightening discussions should happen mid-year. Within the same text, U.S. growth forecasts for 2015 were lowered to 2.5% from 3.0%.
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FX Daily
March 23, 2015 Posted by
The USD while trading weaker today, is near multi-year highs and will likely continue to strengthen as the Fed normalizes policy. Loretta Mester, the Cleveland Fed president (non-voting member), said that inflation will rise back to the 2% target over time.
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FX Daily
February 12, 2015 Posted by
There are times when reality is more interesting than fiction. Yesterday media outlets reported that Greece had agreed to move forward with a bailout extension.
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FX Daily
February 11, 2015 Posted by
The Greek saga continues as the country appeared to strike and conciliatory tone with its creditors only to be rebuffed by Germany. Yesterday, Greek Finance Minister Yanis Varoufakis stated that his country would implement 70 percent of the reforms included in the current bailout package.
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FX Daily
February 09, 2015 Posted by
Greece is once again rattling markets as fallout from their potential to exit the Euro topped the list of concerns in the G20 meeting that began today in Istanbul. A parallel to the Lehman crisis is being drawn insomuch as a disorderly exit of Greece from the euro could trigger a flight to quality by investors that may result in bank runs and another downturn in the global economy.
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FX Daily
January 16, 2015 Posted by
The euro has taken a beating in recent weeks and the downside move accelerated yesterday when the Swiss National Bank unexpectedly ended its policy of maintaining the franc at levels weaker than 1.20 per euro. While setting a record intraday low against the franc yesterday, the euro also ended the day with a 3.5% decline in relation to a basket of major currency peers, the biggest drop on record.
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FX Daily
January 15, 2015 Posted by
The Swiss National Bank sent shockwaves through the market today by abandoning its 1.20 cap on franc per euro. The SNB simultaneously cut the target rate for three-month LIBOR from a range of minus .75% to minus .25% to minus 1.25% to minus .75%.
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FX Daily
January 14, 2015 Posted by
U.S. retail sales were significantly worse than expected for the month of December, falling by .9%, the worst showing in nearly a year. The retail sales index measures 13 categories of spending and 9 of those fell, indicative of a broad based retreat that will prompt cuts to U.S. growth forecasts.
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