-
Ueda Day
Rising rates and falling stocks provided the backdrop for the foreign exchange market this week. The dollar appreciated against all the G10 currencies but the Swedish krona, which is still correcting higher after the hawkish pivot by the central bank. The market looks for a later and higher peak in the Fed funds rate. This coupled with the risk-off sentiment helped the dollar extend its recovery after falling since last September-October. The yen's weakness on a less than hawkish comments from what is most likely to be the BOJ's new leadership helped lift Japanese stocks today and pared with week's losses. Most of ... (full story)