• Intervention extends dollar retreat

    Intervention extends dollar retreat

    Warshspeak + yen shock steepen dollar reset. Euro marching through one-month highs. BoE leaves rates unchanged, sterling little changed.

  • All eyes on the Fed

    All eyes on the Fed

    Conflict escalates, FX hesitates. Fed decision to test fragile stabilisation. Sterling gives back ground.

  • The list of risks grows

    The list of risks grows

    Dollar risks remain tilted to the upside. ECB holds firm as markets price more hikes. Pound’s summer rally loses momentum.

  • Elevated geopolitical risk vs. subdued FX volatility

    Elevated geopolitical risk vs. subdued FX volatility

    The dollar wants higher. Euro waiting for a catalyst. Burnham is treading carefully, with the bond market listening closely.

  • Rising oil is main short-term risk

    Rising oil is main short-term risk

    US inflation cools, but focus returns to oil. ECB optionality to limit euro’s gains. Data, politics and the British pound.

  • Market mood turns more cautious

    Market mood turns more cautious

    No panic, no dollar surge. A delicate balance for the common currency. Carry support meets growing complacency.