Day: February 28, 2018

Brexit Weakens Rate Hike Support for Sterling

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There are three main influence for sterling.  The first is the general dollar direction.  As widely recognized, the greenback was weak last year and this has continued into this year’s activity.  After falling in January, the dollar is set to close higher against all the major currencies but the Japanese yen.  Sterling’s 2.6% decline (~$1.3820) …

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It Takes Powell to Convince the Market that Yellen was Right

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Many market participants think they heard Fed Chair Powell give a fairly strong signal that he favored a more aggressive course.  The implied yield on the December Eurodollar futures rose five basis points to 1.535%.  The December Fed funds futures contract rose three basis points.   The market moved not to pricing in a fourth hike this …

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