FX Options Update: December 13, 2018
Summary: Saxo Bank's latest report on the FX Options space is now live, with a look at GBP vols in the wake of Prime Minister May's surviving Wednesday's Conservative Party confidence vote.
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FX Update: CAD adds to JPY wobbles against USD
The US dollar has notched higher in the wake of the US President Trump move against Chinese social media companies and a snag in the everything-must-go-up trade. US Congress was unable to reach agreement on new stimulus measures in the latest round of negotiations, but Trump seems ready to move unilaterally with executive action. Some focus on EM as we head into the weekend, the ruble in particular.
FX Update: USD pulls back from new lows. TRY tailspin.
The US dollar weakened to new cycle lows this morning, only to perk up suddenly in what could be a sign of a tactical setback for USD bears, though too early to draw conclusions. In Turkey, the USDTRY spot rate accelerated to the upside to a new all-time high and other EM currencies were under a bit of strain, a possible source of the USD support here.
FX Update: USD slips lower again. TRY focus for EM.
Yesterday saw record highs for gold and tech stocks and a record low for US treasury yields for 2-year and out to 10-year benchmarks, with a weaker US dollar clearly helping things along. In EM, the focus is squarely on the Turkish lira as USDTRY poked above the 7.00 level that Turkey has been trying to defend of late.
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