From Marc to Market:
The US dollar is mostly softer against the major and emerging market currencies. The yen is an exception, and the market is pushing the dollar closer to the 40-year high recorded at the start of the month near JPY162.85. Oil prices are firm as the de-escalation efforts are proving tricky. Meanwhile, reports that Beijing is supporting the equity market by mobilizing state-backed investors may have encouraged bargain hunting after the tech and chip pullback.
Late yesterday, the US threatened 50% tariffs on some Canadian goods for actions it claims discriminate against US companies. At first the Canadian dollar extended yesterday’s losses, but it has recovered and is now a little higher on the day. The new UK government’s honeymoon may be short-lived following today’s report that the former government borrowed more than forecast in the first three months of the new fiscal year....
....MUCH MORE
