After Outsized Politically-Driven Repositioning, Markets Return to Normal Dynamics

GBPJPY closing in to pre-intervention levels BoJ has the habit of intervening during bank holidays Momentum indicators remain bullish GBPJPY is edging higher again today, trading very close to the levels that forced the BoJ to intervene twice in late April. This pair has been experiencing a non-stop rally from the early May lows, quickly […]

A batch of inflation statistics from the UK seems to have fuelled the Pound’s rally against the Dollar and Euro, which has been going strong since the beginning of the month. Consumer inflation remained at 2.0%, with the core index at 3.5% y/y. At the same time, positive monthly price trends persisted, adding 0.1% in […]

Markets: Trading was again confined to rather tight ranges today. US yields created some breathing space end last week compared to important support levels (4.7% area US 2-y yield, 4.3/37% area 10-y yield), but for now follow-through gains look rather difficult. Eco were few today, but there were interesting comments from Fed governors. Fed’s Waller […]