Stock Market
By Maheen Hernandez
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What Strategists Are Saying. John Taylor, a currency strategist, didn't mince words.
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Trading Floors See Wild Moves. Currency traders in London reported crazy volatility this week, especially in pairs involving the…
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Hedge funds are bailing on the dollar. Peace talks in the Middle East picked up steam this week, and traders responded by cutting their greenback holdings at the fastest clip in…
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Data from the Commodity Futures Trading Commission shows hedge funds slashed their net long positions in the dollar by 15% over the past week.
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Currency markets reacted fast. The dollar index, which measures the greenback against six major currencies, fell 0.6% to 101.5. That's the lowest reading since early January.
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John Taylor, a currency strategist, didn't mince words. "If we see a resolution in the Middle East, the dollar could face further pressure," he said.
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But it's not just about peace talks. The International Monetary Fund threw another wrench into the mix on April 13 when it released a report flagging risks to global economic…
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On Wall Street, the big banks are telling clients to watch the Middle East closely. JPMorgan Chase sent out a note to investors on April 14 saying a successful resolution could…
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Currency traders in London reported crazy volatility this week, especially in pairs involving the dollar. On Thursday, the euro-dollar pair saw unusual trading volumes.
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Goldman Sachs jumped in with its own take on April 14. The bank released a report saying ongoing peace talks could boost regional currencies like the Israeli shekel and the…
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The U.S. Treasury Department hasn't said anything. No statements about how peace negotiations might affect the dollar.
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The Bank of England weighed in during its monetary policy meeting on April 12. The central bank said regional stability in the Middle East could affect global trade routes and…
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The Swiss National Bank ramped up its monitoring of currency swaps involving Middle Eastern currencies.
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European Central Bank President Christine Lagarde spoke on April 13 and emphasized the need for vigilance.
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Market participants are now laser-focused on next week's talks. Any signs of a breakthrough could trigger more adjustments in currency positions.
The Currency Analytics
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