The pound keeps doing what it has done all year: recovering faster than anyone expects. GBP/USD closed the week at 1.3446, up from 1.3351, having touched 1.3545 midweek — within touching distance of the June highs. From the late-June low of 1.3143, that’s a 3% rally in three weeks, and it’s happened against a broadly […]
USD/JPY at 161 has made “the carry trade” the most cited and least understood phrase in finance. Let’s fix that in five minutes. The mechanics A carry trade borrows money where interest rates are low and invests it where rates are high. Japan’s rates sit near zero; America’s are meaningfully higher. So a fund borrows […]
The pound keeps ruining the bears’ summer. GBP/USD pushed to 1.343 this week, extending a recovery that has carried sterling from 1.3143 in late June to within striking distance of the 1.35 handle it last touched in May. Against a surging dollar, that’s an achievement — and against the euro, it’s a rout, with EUR/GBP […]
The yen’s June reprieve lasted exactly two weeks. USD/JPY closed Monday at 162.51, up from 161.88 last week, with the pair touching 162.58 — the highest since the April spike. The sellers who showed up at the end of June have been absorbed, and the carry community has taken that as its cue to reload. […]
It’s been ten days since bitcoin last traded above $63,000, and the crypto market has settled into that uncomfortable limbo between “bottoming process” and “distribution before the next leg down.” The token trades near $62,800 this morning, up modestly from the July 1 low of $57,748 but still 24% below the May peak. Volume has […]