Somewhat lost in all the yen drama, the British pound has been quietly having an excellent summer. GBP/USD touched 1.3675 on Wednesday, its highest level of 2026, before settling back around 1.3550. From the late-June low of 1.3143, that’s a rally of more than 4% in under two months. For a major currency pair, that’s […]
7,816. The S&P 500 touched that level on Wednesday — its first foray above 7,800 — before settling near 7,780. The rally that began at the June correction low of 7,238 has now delivered 8% in eleven weeks, and the character of the advance keeps improving. Breadth is the headline Unlike the narrow megacap-led rallies […]
The euro has done it: a daily close above 1.16, at 1.1682, with an intraweek high of 1.1712. EUR/USD has now recovered every pip of the June–July decline and is trading back at levels last seen in mid-May. From the June low of 1.1325, that’s a 3.9% rally — and crucially, it’s happening while the […]
Here’s the question every gold bear is asking this week: the dollar hasn’t fallen — so why is gold surging? The metal has climbed from 3,955 to near 4,600 in seven weeks, and the usual inverse correlation with the dollar has decoupled. USD/JPY is still elevated, the dollar index is flat rather than down, and […]
Sterling is on one of its trademark summer tears. GBP/USD closed the week at 1.3654, up from 1.3551, and touched 1.3675 on Wednesday — the highest level of 2026 and within sight of levels last seen in early 2025. From the late-June low of 1.3143, the pound has rallied 4% against a broadly firm dollar, […]