More of the Same

If you enjoyed watching Janet Yellen spend several hours avoiding saying anything remotely interesting yesterday, you should love today’s Senate Banking Committee testimony. In the meantime, EURUSD has reversed at our upside target and broken trend to the downside……even as USDJPY makes a feeble attempt at stabilizing.The net result is a dollar index which seems … continue reading →

Turn, Turn, Turn

To everything (turn, turn, turn) There is a season (turn, turn, turn) And a time to every purpose, under heaven The dollar’s dip has been a headwind for the markets, but it’s served a purpose: resetting various carry trades and putting things on firmer footing for the next stage.  I don’t know whether central bankers … continue reading →