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Dollar Slips Marginally, Dollar-Bloc Remains Heavy, Market Awaits Fresh Push
Fresh dollar positive developments have not materialized. Moody's did not downgrade France before the weekend. ECB's Visco played down the need for additional stimulus after last week's disappointing TLTRO. Iwata, formerly at the BOJ, cautioned against continued yen declines, suggesting that the JPY90-JPY100 range reflects fundamentals. The dollar's pullback has been quite modest, and it remains well within the ranges seen before the weekend. The divergence between the US and UK on one hand, who are expected to raise rates next year, and the eurozone and Japan, on the other, which are easing and may ease further, ... (full story)